HYUNDAI TO BUY FIAT CHRYSLER AUTOMOBILESPosted On: July 1, 2018 By : AutoLife Team
Hyundai seeks to buy all of Fiat Chrysler Automobiles which includes famous brands like Fiat, Chrysler and Jeep. Back in 2015, Ferrari, Volkswagen Group and General Motors were in the offing. However, Hyundai seems to be the one to take over FCA buyout. The transaction would help to boost finances for the company and will come at a time to allow FCA to be cash positive by the end of next year. Hyundai on the other hand was flush with cash to start the Genesis luxury brand and could buy out FCA. However, Hyundai is in the midst of company reorganization with CEO Chung Mong-koo likely to step down.
Both companies have declined to make any comment on the potential buyout.