LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Fiat Chrysler denies reports of being approached by Great Wall Motor's for Jeep acquisition

Fiat Chrysler released a statement today announcing that it has not been approached by the Great Wall Motor's over Jeep or any other brands acquisition.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Fiat Chrysler denies reports of being approached by Great Wall Motor's for Jeep acquisition
The 2017 Jeepp Compass launched in India. Photo: Jeep official website
Written By: ZeeBiz WebTeam
Updated: Tue, Aug 22, 2017
01:08 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Is the Jeep Compass ready to take on Mahindra XUV 500, Tata Hexa, Hyundai Tucson, Renault Duster? Is the Jeep Compass ready to take on Mahindra XUV 500, Tata Hexa, Hyundai Tucson, Renault Duster?
Chinese automakers kick tires at FCA, but any deal faces obstacles Chinese automakers kick tires at FCA, but any deal faces obstacles
China's Great Wall confirms interest in Fiat Chrysler China's Great Wall confirms interest in Fiat Chrysler
China's Geely says has no plan to buy Fiat Chrysler China's Geely says has no plan to buy Fiat Chrysler
Fiat Chrysler launches Jeep Compass in India priced at Rs 14.95 lakh; receives 5,000 bookings Fiat Chrysler launches Jeep Compass in India priced at Rs 14.95 lakh; receives 5,000 bookings
Key highlights:
  • Fiat Chrysler denied reports on Great Wall Motor approaching them for Jeep acquisition as rumours
  • FCA is fully committed to its 2014-18 plan, it said
  • Earlier reports said Great Wall Motor official had confirmed regarding FCA's Jeep acquisition

Fiat Chrysler Automobiles (FCA) has denied reports of being approached by Chinese automobile company Great Wall Motor's for the acquisition, part or whole, of its iconic Jeep brand. It confirmed that it has not been approached by Great Wall Motor's in connection with the Jeep Brand.

“In response to market rumors regarding a potential interest of Great Wall Motors in the Jeep brand, Fiat Chrysler Automobiles confirmed that it has not been approached by Great Wall Motors in connection with the Jeep brand or any other matter relating to its business,” the company said in a statement.

It further said that FCA is fully committed to its 2014-18 plan, having achieved each one of its targets to date and with only six quarter left to its completion.

While there were reports regarding rumours of the Great Wall Motor Co Ltd having interest in FCA for the acquisition, part of whole, of its brand Jeep and Ram trucks, a Reuters report quoting an official from the Chinese company confirmed the reports regarding this.

Great Wall Motor Co Ltd is interested in Fiat Chrysler Automobiles (FCA), an official from the Chinese company said, confirming reports it is pursuing all or part of the owner of the Jeep and Ram truck brands, said the Reuters report on Monday.

"With respect to this case, we currently have an intention to acquire. We are interested in (FCA)," an official at Great Wall Motor's press relations department told Reuters. He declined to give his name and gave no further details.

FCA shares rose more than 5% in Milan on Monday to their highest in 19 years.

The report further said that industry experts said any Chinese bid was likely to encounter financial, political and regulatory obstacles in the United States, China and Europe.

FCA Chief Executive Sergio Marchionne is seeking a partner or buyer for the world's seventh-largest automaker to help it to manage rising costs, comply with emissions regulations and develop technology for electric and self-driving cars.

Great Wall Motor is China’s largest sport utility vehicle (SUV) and pick-up manufacturer, would be making an audacious move in taking on FCA, which has a market value of almost $20 billion.

It further said that if Great Wall, with a market value of about $16 billion, bought FCA it would be China's largest overseas automotive industry deal to date - dwarfing Geely's 2010 billion acquisition of Volvo cars.

ALSO READ:
  • China's Great Wall confirms interest in Fiat Chrysler
  • Fiat Chrysler launches Jeep Compass in India priced at Rs 14.95 lakh; receives 5,000 bookings
  • Fiat Chrysler to launch new Jeep Compass in 2017 in India

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Fiat Chrysler AutomobilesFCAGreat Wall MotorJeepacquisitionRam trucksautomobilesAlfa RomeoSUVAuto
RELATED NEWS
Is the Jeep Compass ready to take on Mahindra XUV 500, Tata Hexa, Hyundai Tucson, Renault Duster? Is the Jeep Compass ready to take on Mahindra XUV 500, Tata Hexa, Hyundai Tucson, Renault Duster?
Chinese automakers kick tires at FCA, but any deal faces obstacles Chinese automakers kick tires at FCA, but any deal faces obstacles
China's Great Wall confirms interest in Fiat Chrysler China's Great Wall confirms interest in Fiat Chrysler
China's Geely says has no plan to buy Fiat Chrysler China's Geely says has no plan to buy Fiat Chrysler
Fiat Chrysler launches Jeep Compass in India priced at Rs 14.95 lakh; receives 5,000 bookings Fiat Chrysler launches Jeep Compass in India priced at Rs 14.95 lakh; receives 5,000 bookings

LATEST NEWS

Pharma exports FY 2021: Indian made generics see HUGE demand; grows by 18 percent to $24.44 bn

Expert recommends BUY ACC with price target of Rs 2100, stop-loss Rs 1850

IndianOil Alert – Your Opportunity to earn WHOPPING Rs 2 Cr – Know terms and conditions; Do this and Win BIG

Stock Market Outlook: Anil Singhvi reveals Nifty, Bank Nifty support range; says global markets, Q4 results to drive street

Petrol, Diesel Price Today – Rates unchanged on Sunday in 4 metros; Do this to get latest prices in Delhi-NCR, Mumbai, Kolkata and Chennai

GOOD NEWS! Modi Govt slashes Remdesivir MRP by half, with retro-effect—This is how much it will cost you now

Markets fight Covid 19 second wave, KEY HIGHLIGHTS during this week

IBPS admit card 2021 released—here is how you can download it from official website ibps.in

Rajini, Kamal, Mohanlal and many others mourn Vivek's demise

Sonu Sood tests positive for Covid 19

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved