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KKR-owned Marelli files for court-led rehabilitation proceedings

06/24/2022 | 06:52am

TOKYO (Reuters) - Marelli Holdings Co, a Japanese auto parts supplier owned by private equity firm KKR & Co, said on Friday it filed for court-led rehabilitation proceedings after a voluntary debt workout failed to gain full support.

Marelli, a key supplier for Stellantis and Nissan Motor Co, was created in 2019 after Fiat Chrysler Automobiles sold its car parts unit Magneti Marelli to Calsonic Kansei for 5.8 billion euros ($6.5 billion).

"We are fully prepared to extend additional financing to Marelli, as needed, to ensure that the company operates its business as usual through the proceedings," a KKR spokesperson said.

(Reporting by Miho Uranaka and Makiko Yamazaki; Editing by Edmund Blair)

© Reuters 2022
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