Investing.com -- Stellantis NV and Nissan Motor Co. are in discussions to acquire certain assets from Marelli Holdings Co., the auto-parts manufacturer currently undergoing bankruptcy reorganization, according to a Bloomberg report Thursday.

Stellantis is negotiating for Marelli's suspensions business in Italy, Poland, Brazil and Mexico. Nissan is examining cockpit assets from the supplier's Japanese operations.

Marelli was formed in 2019 when KKR & Co. merged Italian supplier Magneti Marelli, purchased from Fiat Chrysler for approximately €6.2 billion ($7 billion), with Calsonic Kansei, a Japanese supplier previously owned by the private equity firm. The company filed for Chapter 11 bankruptcy protection one year ago.

The asset discussions are part of wider negotiations aimed at preserving the auto-parts supplier. No agreements have been finalized.

The component maker, which produces interiors, climate systems and automotive electronics, sought U.S. court protection after clients including Stellantis and Nissan faced declining sales in major markets. Marelli also cited tariffs and ongoing supply-chain issues stemming from the Covid-19 pandemic in court documents.

Stellantis and Nissan are participating in restructuring talks due to their business relationships with Marelli. Both companies are the supplier's largest unsecured creditors, according to court filings.

Marelli has received emergency funding from senior creditors, including Strategic Value Partners, MBK Partners, Fortress Investment Group and Polus Capital Management. The company plans to exit bankruptcy this year under the ownership of these main lenders.

Future order commitments from both Stellantis and Nissan will be important for Marelli's Chapter 11 proceedings, the report said. Marelli already manufactures components at some Stellantis facilities.

The supplier employs more than 40,000 people and has faced declining orders for several years. Magneti Marelli, founded in 1919, remains part of Italy's automotive sector. Marelli's clients also include BMW AG.