The story appears on

Page A10

August 16, 2017

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » Auto

Fiat Chrysler surges on Chinese bids

Shares of Fiat Chrysler Automobiles surged yesterday following a report that it is being targeted for a possible takeover by multiple Chinese companies.

US-traded shares of FCA rose 8.3 percent at midday to US$12.57 after trade publication Automobile News reported that Chinese companies were eyeing Fiat Chrysler as a way to enter the North American market.

FCA rejected at least one bid from an unnamed “well-known” Chinese company this month, while other large Chinese automakers were also conducting due diligence on the company, said Automobile News.

The publication said FCA executives traveled to China to meet with Great Wall Motor Co. Great Wall, created in 1984, sold more than a million cars last year under the Great Wall and Haval brands.

The article also mentioned other Chinese companies as potential suitors, but said it was unclear which ones would follow through.

FCA sells annually about 4.5 million cars and light trucks under brands that include Jeep, Dodge, Ram, Alfa-Romeo and Maserati, as well as its two namesake units. FCA spun off the Ferrari brand on Wall Street in October 2015 and Milan in January 2016.

FCA’s chief executive, Sergio Marchionne, has said repeatedly he would like to merge FCA with another large firm for better economies of scale.


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend