Deals
Fiat Chrysler Set for Parts-Unit Separation as Big Deal on Hold
- Alfa and Maserati operations too ‘immature’ for spinoff yet
- Marchionne says he hasn’t had offer or approach for carmaker
This article is for subscribers only.
Fiat Chrysler Automobiles NV, lacking a potential deal to combine with another carmaker anytime soon, will push ahead with separating from its components business, Chief Executive Officer Sergio Marchionne said.
Marchionne, who has actively sought a partner for Fiat Chrysler in the past, cooled speculation of a pending deal to tie up with a competitor, saying he hadn’t received any approach or offer for the Italian-American automaker. He also said that the upscale Alfa Romeo and Maserati brands aren’t ready to be independent. That puts the near-term focus on smaller portfolio adjustments. Fiat Chrysler stock dropped the most in two months.