Hyundai CEO Chung Mong-Koo is reportedly showing keen interest in FCA’s share prices. Media reports indicate Mong-Koo is waiting for FCA’s share prices to fall, as he plans to make a bid for the Italian-American car giant. The Korean auto manufacturer is hoping to acquire a majority stake in FCA either during this summer or in May 2019 during FCA’s 2019 shareholder meeting.
FCA’s head honcho (CEO), Sergio Marchionne is likely to announce his retirement at the annual shareholders meeting in 2019. The company had evaluated options to tie-up with China’s Great Wall Motor Co. though it did not materialize. FCA was keen on a merger with the Chinese auto giant to put pressure on Hyundai, as the auto maker was also interested in the company.
If the acquisition takes place, Hyundai and its sister brand, Kia would have their hands on the globally renowned luxury brands such as Maserati and Alfa Romeo. The Korean car giant also seems to be interested in FCA’s North American distribution network. If Hyundai and FCA agree on a merger, it would make it the largest automotive conglomerate globally.
Hyundai, which is one of the largest automotive brands in India, offers a range of vehicles under its portfolio. Hyundai’s sister brand, Kia is also planning to make inroads into the Indian market in 2019 with a slew of products most of which were showcased at the Auto Expo 2018 held earlier in February. As for Hyundai, the company recently launched the much-awaited facelifted version of its stellar compact SUV, Creta in the country and is gearing up to bring a bunch of other products in future.