Magneti Marelli sale approved by EU ahead of plan. Sale could close next week

[AlexB]

The speed of Manley......
The deal to sale Magneti Marelli (MM) to KKR-backed CK Holdings is going faster than plan as the EU(European Union)has approved the sale, and Reuters is throwing around a March 27 date which is next week:

Europe Daily News, 15 March 2019 | Perspectives & Events | Mayer Brown

• Commission clears acquisition of Magneti Marelli by KKR (M.9200)

EU mergers and takeovers (March 18)

The following are mergers under review by the European Commission and a brief guide to the EU merger process:

www.reuters.com

The original closing date target was July-Q3 2019:KKR-backed Calsonic to buy Fiat Chrysler's Magneti Marelli unit for $7.1 billion | Mopar News and Rumors

Once the sale of MM closes,FCA will have the best balance sheet of the Legacy American Automakers.

 

[Bili]

More cash on hand?

 

[AlexB]

More cash on hand?

FCA already has more cash on hand than GM once GM Financial (which GM tells investors is "restricted cash" but yet provides a PR figure that groups them in anyway) is backed out.

GM will likely report Net debt for the First quarter just for the Full Size SUV downtime conversion together with the compensation for job cuts....that's not even including factoring in marketplace mistakes. GM will draw down its Lines-Of-Credit.

Ford may still have greater total avaliable cash on hand than, but a worser "Net Cash" position than FCA-post MM sale.

 

[Bili]

FCA already has more cash on hand than GM once GM Financial (which GM tells investors is "restricted cash" but yet provides a PR figure that groups them in anyway) is backed out.

GM will likely report Net debt for the First quarter just for the Full Size SUV downtime conversion together with the compensation for job cuts....that's not even including factoring in marketplace mistakes. GM will draw down its Lines-Of-Credit.

Ford may still have greater total avaliable cash on hand than, but a worser "Net Cash" position than FCA-post MM sale.

I would like to see a comparison with an all mighty VAG or Daimler.

But in any case I would like to see speed up of some vehicle development. Or more vehicle announcements for post 2021 period. As we know FCA made an official announcement for all Italian and most US factories in 2019-2021 period.

 

[Blown7]

Bottom line cash on hand doesn't mean a thing until it is spent on something.

Whats the something FCA needs?

 

[AlexB]

Bottom line cash on hand doesn't mean a thing until it is spent on something.

Whats the something FCA needs?

Actually, the Balance Sheet is highly important to the Credit standing of said business. This sale eliminates the last financial disadvantage vs Ford.

 

[AlexB]

I would like to see a comparison with an all mighty VAG or Daimler.

But in any case I would like to see speed up of some vehicle development. Or more vehicle announcements for post 2021 period. As we know FCA made an official announcement for all Italian and most US factories in 2019-2021 period.

I would like to see a comparison with an all mighty VAG or Daimler.

But in any case I would like to see speed up of some vehicle development. Or more vehicle announcements for post 2021 period. As we know FCA made an official announcement for all Italian and most US factories in 2019-2021 period.

VW is €18.3 billion net cash. Daimler €4 billion net cash..