Key facts
- Stellantis and Nissan are in discussions to acquire assets from auto parts maker Marelli.
- Marelli has filed for Chapter 11 bankruptcy in U.S. courts.
- Stellantis is interested in Marelli's suspensions business.
- Nissan is reportedly interested in Marelli's cockpit assets.
- Marelli expects to continue supplying its OEM clients during the bankruptcy process.
- The company has received $1.1 billion in debtor-in-possession financing.
Automakers Stellantis NV and Nissan Motor Co. are reportedly in discussions to acquire certain assets from Marelli Holdings Co., the global auto-parts maker that has filed for Chapter 11 bankruptcy in the U.S. The negotiations come as Marelli undergoes a significant reorganization to address its debt obligations.
Sources familiar with the matter indicate that Stellantis is negotiating for Marelli's suspensions business, with operations in Italy and other countries being considered. Meanwhile, Nissan is reportedly interested in acquiring Marelli's cockpit assets located in Japan.
Marelli, owned by private equity firm KKR, filed for bankruptcy on June 12, stating that the process is necessary to strengthen its balance sheet by converting debt to equity. The company has assured its clients, including Nissan and Stellantis, that it expects no disruption to its supply of components during the restructuring. Marelli has received $1.1 billion in debtor-in-processing (DIP) financing to support its operations throughout the Chapter 11 proceedings.
The bankruptcy filing includes motions for Marelli to continue its operations and maintain customer relationships, pending court approval. The company's lenders have largely agreed to a Restructuring Support Agreement, which would see DIP lenders take ownership of the business post-restructuring and a 45-day overbid period. Indian supplier Motherson Group has been identified as a potential bidder during this overbid process, having previously presented a buyout offer to Marelli's debt holders.