Fiat Chrysler Automobiles runs on the stock market and drags the entire basket. The Lingotto stock currently gains 2,17% to 18,183 euros, realizing from the best performance of the Ftse Mib (+1,2%).
Pushing the purchases are some press rumors released today on the possible spin-off and on the listing of Magneti Marelli. In detail, according to reports from The sun 24 hours, in the coming days a board of directors should be held in which the future of Corbetta's company will be discussed. The rumors were also driven by the words spoken at the end of January by Sergio Marchionne, who had anticipated that the spin-off of Magneti would be included in the plan to 2022 which will be presented next June.
Currently, forecasts are as follows: about 50% of Magneti Marelli will end up on the market, while the remaining share will be assigned to Fiat Chrysler shareholders, including Exor.
The components group, according to the latest estimates, could be worth between 4 and 6 billion euros. The IPO date could be set between the summer and early 2019, in time to help the group deal with a possible US sanction deriving from Dieselgate and at the same time achieve its debt cancellation goal.
It should be taken into consideration that the rumors about Magneti Marelli come the day after the data on new car registrations in Europe, which grew by 6,8% in January compared to the same month in 2017.
Good opening performance for FCA which with +1,8% is among the best stocks in the Ftse Mib index, up by 1,1%. Press sources have returned to talk about the Magneti Marelli spin-off which, according to some rumors, will be discussed by the board of directors as early as next week. The operation should concern the spin-off and subsequent listing via IPO of 50% of the component company, the overall valuation of which should be between 4 and 6 billion, while the other half should be divided among FCA shareholders, including Exor. The IPO, expected between the summer and the beginning of 2019, could therefore help the group deal with the possible fine in the US deriving from the Dieselgate and at the same time achieve the goal of zeroing the debt. It should be remembered that FCA confirmed during the presentation of the accounts at the end of January that this year's targets do not include any extraordinary operations. Finally, with regard to Comau, a group company specializing in robotics and automation, according to rumors the possible spin-off should take place separately and with different timing.
