Photo: Magneti Marelli/Mopar
Japanese automotive company Calsonic Kansei might not ring a bell, but they’re the people behind the Power Control System in the Nissan Leaf. Control switches for the air conditioning, occupant detection systems, cluster meters, and gateways are a few other products the corporation manufactures, and going forward, Calsonic Kansei has acquired Magneti Marelli.
This includes intellectual property, and Fiat Chrysler Automobiles received a cash consideration of €5.8 billion in connection with the closing of the deal. An extraordinary cash distribution to the holders of common shares has also been announced at €1.30 per share, translating to €2 billion from the proceeds of the transaction.
“We thank Magneti Marelli’s employees for their dedication to providing innovative products while supporting FCA business objectives,” said Mike Manley, chief executive officer at Fiat Chrysler Automobiles. “This sale also recognizes the full strategic value of Magneti Marelli, improving our financial position, delivering value to our shareholders, and allowing us to enhance our focus on our core product portfolio.”
Even though Calsonic Kansei owns it, Magneti Marelli will continue to supply Fiat Chrysler Automobiles for years to come. Now known as Magneti Marelli CK Holdings, the automotive company is estimated to bring no fewer than €15.2 billion in revenue. That’s a lot of money, but then again, Calsonic Kansei is one of the biggest companies in Japan despite the fact it isn't included in the Nikkei 225 on the Toyko Stock Exchange.
Founded in 1938 and headquartered in Saitama, the Calsonic Kansei is a privately-owned corporation with close to 60 manufacturing centers in the entire world. New York City-based private equity firm Kohlberg Kravis Roberts acquired the stake Nissan used to own a few years ago, then bought the rest of Calsonic Kansei in February 2017.
Calsonic Kansei has been supplying the McLaren F1 team with racecar components for more than two decades. The corporation also serves as a partner to Team Impul in the Super GT Series in Japan, which races the Nismo GT500-branded Nissan GT-R.
“We thank Magneti Marelli’s employees for their dedication to providing innovative products while supporting FCA business objectives,” said Mike Manley, chief executive officer at Fiat Chrysler Automobiles. “This sale also recognizes the full strategic value of Magneti Marelli, improving our financial position, delivering value to our shareholders, and allowing us to enhance our focus on our core product portfolio.”
Even though Calsonic Kansei owns it, Magneti Marelli will continue to supply Fiat Chrysler Automobiles for years to come. Now known as Magneti Marelli CK Holdings, the automotive company is estimated to bring no fewer than €15.2 billion in revenue. That’s a lot of money, but then again, Calsonic Kansei is one of the biggest companies in Japan despite the fact it isn't included in the Nikkei 225 on the Toyko Stock Exchange.
Founded in 1938 and headquartered in Saitama, the Calsonic Kansei is a privately-owned corporation with close to 60 manufacturing centers in the entire world. New York City-based private equity firm Kohlberg Kravis Roberts acquired the stake Nissan used to own a few years ago, then bought the rest of Calsonic Kansei in February 2017.
Calsonic Kansei has been supplying the McLaren F1 team with racecar components for more than two decades. The corporation also serves as a partner to Team Impul in the Super GT Series in Japan, which races the Nismo GT500-branded Nissan GT-R.
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