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Four people familiar with the situation said that Fiat Chrysler (FCA) (FCHA.MI) is planning to divestiture the auto parts business Magneti Marelli to shareholders by listing in Milan. The listing will not issue new shares to raise funds.
According to the agreement, according to the agreement, FCA investors will get Magneti Marelli shares in proportion to their existing FCA shareholding. The agreement aims to give more freedom to Magneti Marelli, including financing in the future.
Three of these sources, consider the existing trading advisor at first IPO of 99 year old Magneti Marelli (IPO), to raise cash to reduce FCA debt, but the major shareholder of FCA Agnelli family is undervalued by industry and beat a retreat, and you do not want the dilution of equity in Magneti Marelli.
"It's not worth taking the IPO line at this stage," one of the people said. "In addition to reducing the debt of FCA, it does not bring any immediate benefits to the FCA shareholders."
The source said FCA CEO Marchioe Hei (Sergio Marchionne) might announce the move when it announced a new strategic plan in June 1st.

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