February 28, 2018 / 10:12 PM / 9 months ago

FCA to review potential Magneti Marelli spinoff in second quarter

FILE PHOTO: A woman walks past a logo of Fiat Chrysler Automobiles (FCA) in Turin March 31, 2014. REUTERS/Giorgio Perottino

DETROIT (Reuters) - Fiat Chrysler Automobiles NV (FCA) (FCHA.MI) said on Wednesday that in the second quarter the automaker would review the possible spinoff of its Magneti Marelli unit.

Last month FCA Chief Executive Officer Sergio Marchionne said he had recommended to the company’s board that the automaker spin off the maker of components for lighting, engines, electronics, suspension and exhausts, to shareholders by the end of 2018.

Reporting By Nick Carey; Editing by Sandra Maler

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