KKR has named one of its partners, Dinesh Paliwal, to run portfolio company Marelli as the COVID-19 pandemic forces the Italian auto-parts maker to make more drastic restructuring moves, Bloomberg reports, citing people familiar with the matter.
KKR partner and Marelli Executive Chairman Paliwal has already taken control of the company, the people told Bloomberg. They didn’t know if he would keep the role on a long-term basis.
Fiat Chrysler agreed in 2018 to sell its Magneti Marelli division to KKR’s Calsonic Kansai in a €6.2B transaction.
Read more/Source: Seeking Alpha
