Fiat Chrysler says nobody's trying to buy its brands
Despite consistent rumors swirling around a potential sale of Fiat Chrysler Automobiles, the Italian-American automaker says that it doesn’t have any offers to consider at the moment. That’s the official word from CEO Sergio Marchionne, who spoke to the media while attending the Formula One Italian Grand Prix last weekend.
Marchionne has long been open about his desire to find a merger partner for FCA, in his attempts to lay the groundwork for long-term stability. While his public flirtations with GM and Volkswagen went unrequited, other potential suitors stepped up. For months, speculation centered on a handful of Chinese companies willing to dish out hefty sums to get their hands on the profitable Jeep brand.
So far, none of the would-be partners have made a serious offer—either to merge with FCA or to purchase one of its primary assets. When asked whether FCA had been officially approached or had a major deal under consideration, Marchionne responded with a flat, “no.”
He did, however, affirm plans to divest some assets in a move aimed at streamlining FCA’s portfolio. Speaking to Reuters, he said, “There are activities within the group that do not belong to a car manufacturer, for example the components businesses. The group needs to be cleared of those things.”
Perhaps unexpectedly, Marchionne also floated the idea of selling Alfa Romeo and Maserati. He was clear that such a sale wouldn’t be on the horizon any time soon, though. It’s too early in their product revival to consider the possibility, he said, before calling the brands, “immature and in a development phase.”
Read more from Internet Brands Automotive