Equities

Reuters reveals Fiat Chrysler to spin-off Magneti Marelli without raising money

Reuters reveals Fiat Chrysler to spin-off Magneti Marelli without raising money

Reuters exclusively revealed that Fiat Chrysler Automobiles NV is looking to spin off auto-parts business Magneti Marelli to its shareholders via a Milan listing that will not raise money by selling new shares. Under the deal, which is aimed at giving Magneti Marelli more flexibility - including to raise money in future - FCA investors will get shares in the parts maker in proportion to their existing FCA holding.