FCA begins spin-off of Magneti Marelli

Automaker will register Magneti Marelli in the Netherlands and list it on Milan Stock Exchange

Fiat Chrysler Automobiles (FCA) has commenced the planned spin-off of its auto parts subsidiary Magneti Marelli, Reuters reported on 19 July citing a FCA document outlining split. As part of the spin-off plan, FCA will register Magneti Marelli in the Netherlands and list it on the Milan Stock Exchange. The report adds that FCA has created a separate entity called MM Srl, into which it will fold Magneti Marelli’s electronics and electro-mechanical operations related to racing cars and racing motorbikes. FCA has also created 14 other holdings in various companies around the world, including in Germany, Slovakia, Mexico, and South Africa. The new entity will be incorporated into a Dutch holding company via a cross-border merger.