Calsonic to Buy Fiat Chrysler's Auto Parts Biz

Economy

Tokyo, Oct. 22 (Jiji Press)--Calsonic Kansei Corp. said Monday that it will buy auto parts maker Magneti Marelli SpA from Fiat Chrysler Automobiles NV for 6.2 billion euros.

The acquisition procedures are expected to be finished by the end of the first half of 2019.

The Japanese auto parts maker aims to achieve a greater economy of scale through the acquisition.

Calsonic Kansei plans to speed up the development of next-generation technologies amid rapid changes in an auto industry landscape stemming from the introduction of self-driving and electrification technologies.

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