STEP 1-Fca currency transfer Magneti Marelli, US funds interested … – Reuters Italy

       

(Adds statement spokesman Fca)

       

Pamela Barbaglia and Agnieszka Flak

       

LONDON / MILAN, July 17 (Reuters) – Fiat Chrysler Automobiles (Fca) is considering the sale of Magneti Marelli After being contacted by several potential buyers.

       

And ‘they say several sources familiar with the matter.

       

At least two US private equity firms are working with companies in the automotive sector to submit joint proposals, say three sources.

       

On the table of the Turin group there is at least an offer for less than EUR 2.5 billion, which was rejected last June; Fca, in fact, aims to raise some € 3 billion from the transaction, said one of the sources.

       

The group led by Sergio Marchionne can sell Magneti Marelli in block or spin off the assets and sell them individually, according to the sources, adding that no final decision has been taken and the sale itself is not granted.

       

Gualberto Ranieri, a spokesman for Fca, said that Magneti Marelli is not for sale.

       

Committed in the IPO of Ferrari, scheduled for mid-October, Fca referred the decision of Magneti Marelli as he has completed the listing of Cavallino. More …