Great Wall Motor Aims to Acquire Jeep From Fiat Chrysler Automobiles
Xu Wei
DATE:  Aug 21 2017
/ SOURCE:  Yicai
Great Wall Motor Aims to Acquire Jeep From Fiat Chrysler Automobiles Great Wall Motor Aims to Acquire Jeep From Fiat Chrysler Automobiles

(Yicai Global) Aug. 21 -- After several Chinese carmakers denied rumors they planned to buy Fiat Chrysler Automobiles NV [BIT:FCA], Great Wall Motor Co. confirmed its intention to purchase one of FCA's brands, Sohu.com reported.

Great Wall Motor aims to purchase Jeep and contacted FCA to negotiate the acquisition, said Great Wall Motor President Wang Fengying. Great Wall Motor has expressed an interest in Jeep, but has not made an offer and did not meet with FCA's board of directors, said Great Wall Motor spokesperson Xu Hui.

The move may spin Jeep off of FCA, bringing uncertainty to Fiat, Chrysler, Dodge and Ram. FCA said that it would mull making Alfa Romeo and Maserati independent companies.

Jeep will be worth about USD33.5 billion after it is hived off, estimated Adam Jonas, an analyst at Morgan Stanley & Co. [NYSE:MS].

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Keywords:   FCA,Auto,Italy,M&A