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South Korean automaker Hyundai is reportedly planning to acquire FCA which includes brands such as Jeep, Fiat, Chrysler and Dodge. Asia Times reports that Hyundai is planning to buy FCA before the retirement of the company's CEO, Sergio Marchionne in 2019.
Marchionne will retire from the position of CEO in April 2019 and it was revealed at FCA's annual investor meeting. He has been looking for buyers for FCA since October 2014. Now, Hyundai has expressed its interest to buy the Italian-American firm.
Previously in 2015, major automakers such as Ferrari, General Motors and Volkswagen Group was reported to be in the bid to acquire FCA. Chinese automaker Great Wall was also in the race to buy the Jeep brand. But now Hyundai is said to be the leading player for the takeover of FCA.
Apart from the speculations about the buyout of FCA, the reports also state that Marchionne is also working on a new business plan for 2022. If reports are to be believed, Marchionne also wants the process of separation to be completed by the end of this year.
The buyout of FCA would help in boosting the financial status of the company. On the other hand, Hyundai's financial condition is stable and there are possibilities of the South Korean company acquiring FCA. Both the companies have not revealed any information about the latest development.
By acquiring FCA, Hyundai will benefit from the dealership network of Chrysler and the popularity of the Jeep brand. In the same way, FCA will be gain from Hyundai's stronghold in the Asian markets. If Hyundai acquires FCA, the new company will be the world's largest automaker.
Thoughts On Hyundai Planning To Buy FCA
Hyundai is one of the major automakers in the Asian market. Now, the company is planning to buy FCA which is looking for a buyer before the retirement of its current CEO. Hyundai will also gain from the renowned brands of FCA such as Jeep, Fiat, Dodge and Chrysler. But all these are just speculations and both the companies are yet to confirm the development.