FCA respond stake sale rumors did not reach any agreement with Guangzhou Automobile

Posted on 5/27/2016 9:56:23 AM

China's domestic automobile Group's international pace is "accelerate", along with Volvo, Dongfeng Motor to acquire Peugeot - Citroen Group (PSA) shares, and now Guangzhou Automobile Group acquired Fiat - Chrysler Group (FCA) Equity News "everywhere" . But this time, I am afraid to make people disappointed.
"Did not reach any share transfer agreement."
FCA Chairman of the Board John El Kahn (John Elkann) has publicly stated: did not reach any share transfer agreement with China, Guangzhou Automobile Group. Italian media had reported is not accurate.
John El Kahn also stressed: FCA have really frequent contact with the Guangzhou Automobile Group to achieve better cooperation intention, but does not include the sale of shares.
Middle of this month, the Italian media reported that the White Guangzhou Automobile Group intends to partner FCA companies even consider opening the offer to buy the company FCA larger proportion of equity.
US media quoted the subsequently reported that Guangzhou Automobile Group will become the largest shareholder of Fiat Chrysler. And details of the "Guangzhou Automobile Group, responsible person, and are within the FCA CEO Sergio Marchionne and chairman John El Kahn, the acquisition of equity matters to discuss."
John El Kahn represents both the Italian Agnelli family, also on behalf of the investor Exor Group, which owns Fiat - 44% of the shares of Chrysler Group. Ferrari listed in promoting the independence of the process, John El Kahn played a role in fueling.
PSA chaos
When asked whether the PSA group will be "a good partner", the John El Kahn expressed: FCA was looking for a "transformational deal", that is not limited to the capital level, more attention to cooperation technical strength partners. "PSA Group does not fall into this category." John El Kahn said.
And on Tuesday, the French "Les Echos" reported that: The French government is considering a 14% stake may sell some or all of the PSA. Given China's Dongfeng Motor Group has previously acquired PSA equity experience, as well as the basis for bilateral cooperation, Dongfeng Motor Group, "then set" high voice.
Moreover, PSA Group's DS brand, but also cooperation with China Changan Automobile Group, and the establishment of factories in Guangzhou, to carry out local production. As China's large central enterprises, Changan Automobile Group have any plans to participate in overseas investment, it is still unclear.
Malchow successor "internal promotion"
According to foreign media reports, this year in May, Guangzhou Automobile Group chairman Zhang room has led, went to Auburn Hills, Mich. Chrysler headquarters, Malchow, president of global brand JEEP Mai Mingkai meeting, in order to promote and deepen cooperation.
Currently, the Guangzhou Automobile Group of China in cooperation with FCA, more focused on the JEEP brand, including rapid domestic freedom freedom light Xia. But the Fiat brand, the Chrysler brand, and even the Dodge brand, little action. This is perhaps the Chinese market SUV models of all ages have a direct relationship. There are also reports that the two sides will achieve the Chrysler 200 and Dodge Dart domestic as soon as possible.
When asked about Malchow within 2019 to "retire", whether in his capacity as chairman and CEO when the "succession" John El Kahn stressed: "they are not a candidate" and "will not the list of possible candidates. " John El Kahn reiterated that his successor will be the selection of Malchow within the company.
From various reports of view, FCA Group has been looking for partners, Malchow has led repeatedly to lobby. And Ford, General Motors, Toyota and Volkswagen rejected. For now, I am afraid this is the party spokesperson FCA Group Holdings - John El Kahn priority.

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