October 21, 2018 / 7:42 PM / a year ago

Fiat Chrysler has agreed to sell Magneti Marelli to Calsonic Kansei-Bloomberg

Oct 21 (Reuters) - Fiat Chrysler Automobiles NV (FCA) has agreed to sell its Magneti Marelli unit to KKR’s Calsonic Kansei, Bloomberg reported on Sunday, citing people with knowledge of the talks.

The transaction value could be as much as 6.2 billion euros ($7.14 billion) and an announcement is scheduled as early as Monday, according to the report.

Reuters reported in September that the Japanese car parts maker had lined up around 5 billion euros in financing from Japanese banks to fund its proposed acquisition of Magneti Marelli, which sits within FCA’s components unit alongside robotics specialist Comau and castings firm Teksid..

FCA, Magneti Marelli, Calsonic Kansei and KKR were not immediately available for comment on the report.

$1 = 0.8686 euros Reporting by Philip George in Bengaluru; Editing by Kirsten Donovan

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