"Fiat Chrysler is selling its auto parts business for $7 billion
"Fiat Chrysler's new CEO has struck a deal to sell the company's auto parts business for more than $7 billion.
The carmaker announced Monday that its Magneti Marelli division is being bought by Japan's Calsonic Kansei for €6.2 billion ($7.2 billion) in a deal that will create one of the world's largest auto parts suppliers.
Fiat Chrysler (FCA) CEO Mike Manley, who took over in July following the death of Sergio Marchionne, said the automaker looked at "a range of options" for Magneti Marelli before deciding to sell it to the Japanese company, which is owned by private equity firm KKR."
From this source:
https://www.cnn.com/2018/10/22/busin...rts/index.html