Guangzhou Automobile denies interested in buying Fiat Chrysler stake

Posted on 5/19/2016 9:40:26 AM

Fiat Chrysler (FCA) Chinese partner Guangzhou Automobile Group, Fiat intends to acquire stake in Chrysler.
Guangzhou Automobile Group Public Relations denied, "the news do not know where it came from, we (GAC) and the FCA has never performed on the acquisition of shares through the issue to discuss, Guangzhou Automobile also no relevant intention."
Fiat Chrysler Trask listed in Milan, the recent stock rose more than 3%. Europe several media reports, Guangzhou Automobile Group acquired the FCA expressed interest. Last year, it came PSA will acquire a stake in FCA, the PSA and FCA Union, denied within a further FCA CEO Sergio Marchionne.
Italian Fiat company obtained control of Chrysler in 2009, after five years of gradual acquisition, completed the acquisition of 100% stake in 2014. 2015 FCA profit of 410 million US dollars (about 2.69 billion yuan), down 40%. Profit decline mainly due to the company paid more than expected for the recall costs and a reorganization plan budget.
Guangzhou Automobile and FCA has a joint venture in China Guangzhou Automobile Fick, domestic brands Fiat and Jeep brand models. Guangzhou Automobile Fick 1 year --4 months total sales 39,000, an increase of up to 211%.

Post a comment

Hello guest, care to post a comment?