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News of  February 07, 2001
.

Divestitures or Alliances review for Magneti Marelli

Turin - The Fiat Group, as part of its ongoing strategy to focus on core activities, has decided to review all available strategic alternatives regarding Magneti Marelli, including the possible divestiture of certain of its business lines or potential alliances with other leaders in the automotive components industry.

The Fiat Group will be appointing Lazard and Schroder Salomon Smith Barney as its financial advisors in this review process.

Given the success of its recent tender offer for Magneti Marelli shares, the Fiat Group is now able to proceed in this matter with a high degree of strategic flexibility.

Over recent years, Magneti Marelli has improved its competitive position through restructuring, acquisitions, and divestitures including the purchase of Seima and the majority of Bosch Lighting Division and the divestitures of its Lubricants, Mechanical Components and Heating Ventilation Air Conditioning Divisions.

With an annual turnover of 4.5 billion euros, Magneti Marelli is today one of the most important automotive system suppliers worldwide, and a leading player in each of its businesses.

(Jan. 29, 2001

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