- 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.
Rajeeb Gurung - Researcher