Fiat's Parts Business Sale Will Turbocharge the Holding Company's Engine [Forbes]
FIAT CHRYSLER AUTO NV (FCAU)
Last fiat chrysler auto nv earnings: 2/6 06:58 am
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Source: Forbes
We’ve written extensively in the past about the things that drive companies into distress, but the most common and obvious one is having too much debt and an inability to repay it. In this column, we’ll take a different approach and take a look at a company that will soon have considerably more cash on hand than debt on its balance sheet. I’m talking about Fiat Chrysler Automobiles (“Fiat”), which just announced a deal to sell its Magneti Marelli auto parts subsidiary to Calsonic Kansei, a Japanese auto parts concern owned by the American private equity firm KKR, for $7.1 billion (approximately €6.2 billion) in cash. Italian investment bank Mediobanca said the sale price is more than 1 billion euros higher than analysts’ average valuation for this business. The deal will close in the first half of 2019 and create a new company with an estimated €15.2 billion in annual revenue, placing the new entity among the top auto suppliers worldwide. Fiat also entered into a multi-year agre
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