Fiat Chrysler sells Magneti Marelli

Fiat Chrysler Automobiles (FCA) has sold its Magneti Marelli supplier division for US$7.1 billion ($10 billion) according to new reports from the United States. An article published in Reuters says Calsonic Kansei (owned by KKR, a private equity firm in the USA, since 2016) will turn into Magneti Marelli CK Holdings when the deal goes through, becoming the seventh-largest independent automotive supplier in the world in the process.