Japanese automotive company Calsonic Kansei has completed the acquisition of Magneti Marelli, producer of automotive components, from the world's eighth largest auto maker Fiat Chrysler Automobiles.
The acquisition was announced in 2018 at a price of €6.2 billion but closed at €5.8 billion due to Magneti Marelli's estimated financial position as of the closing date.
The combined entity - Magneti Marelli CK Holdings - is the world's seventh largest global independent automotive supplier based on total revenues.
Despite the sale, the two parties will maintain close relation as Magneti Marelli will continue to be a key supplier to Fiat Chrysler Automobiles.