Fiat Chrysler completes sale of Magneti Marelli parts division

Fiat Chrysler (FCA) has completed the sale of it Magneti Marelli parts division to Calsonic Kansei for €5.8 billion ($9.2 billion) in cash. The sale price was adjusted down from the €6.2 billion ($9.8 billion) figure announced last year, as Magneti Marelli's financial position had changed. Magneti Marelli produces many automotive components, ranging for lights, powertrain parts, suspension gear and exhaust systems to motorsport pieces.