Fiat Chrysler Automobiles CEO Sergio Marchionne says the company has gotten no offers for merger or acquisition. He went on to confirm FCA is not working on any “big deals” and continues to focus on executing its existing business plan.
Marchionne spoke with Automotive News on the sidelines of the Italian Formula One Grand Prix. As usual, Machionne wasn’t shy about his stance on company matters. The CEO reiterated that FCA will work to purify its business portfolio over time, suggesting it will spinoff its supplier and component businesses over time.
Additionally, Marchionne stated that FCA’s Maserati and Alfa Romeo brands were not in a shape to spinoff into their own entities yet. Instead, he feels the two brands need to be “self-sustaining” first and that they will not be spun off from FCA under his tenure.
Today’s remarks pour cold water on the recent chatter surrounding possible acquisitions of FCA assets. The loudest chatter has come from Chinese automaker Great Wall, who has publicly expressed high interest in acquiring the Jeep brand.