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Fiat will press for Magneti Marelli spin-off next year: CEO Sergio Marchionne

LiveMint logoLiveMint 02-10-2017 Agnieszka Flak

Milan: Fiat Chrysler will push ahead with a plan to separate auto parts unit Magneti Marelli next year, chief executive Sergio Marchionne said on Monday, adding that spinning off and listing the unit would be the best option to unlock value.

Speaking on the sidelines of an event in Rovereto, in northern Italy, Marchionne reiterated that it was premature to spin off Alfa Romeo and Maserati brands.

He said the project may not even happen during the next business plan, which will run from 2018 to 2022 and whose details will be unveiled early next year. Reuters

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