Faurecia completes the takeover of Hella and becomes the world’s 7th largest automotive supplier | Photo credits: Hella
PARIS (Agefi-Dow Jones)–Automotive supplier Faurecia announced on Monday that it has completed the acquisition of its German counterpart Hella, the new entity becoming the world’s seventh largest player in the sector.
“This transformative acquisition brings together two complementary and profitable businesses, creating the world’s seventh largest automotive supplier with a highly advanced technology portfolio. The group’s combined sales in 2025 are expected to reach 33 billion euros and represent an important lever”, commented Patrick Koller, the general manager of Faurecia, quoted in a press release.
Hella’s results will be consolidated in Faurecia’s accounts from February 1, 2022.
The group said it acquired a total of approximately 79.5% of Hella shares, comprising 60% of Hella shares from the pool of family shareholders, and approximately 19.5% as part of the tender offer settlement. of purchase ended on November 11, 2021.
“The total cash and share value of this acquisition represents an investment of 5.3 billion euros,” the group said.
“As a result, Hella’s family shareholder pool has become Faurecia’s largest shareholder with approximately 9% of Faurecia shares,” he added.
The appointment of a representative from the pool of Hella family shareholders to the Faurecia Board of Directors will be proposed at the next general meeting of Faurecia shareholders.
The group also indicated that the family pool had agreed to be subject to an initial blocking of its Faurecia shares for a period of 18 months and then to a subsequent blocking of an additional 12 months for the part of its Faurecia shares exceeding 5% of the capital of Faurecia.
-Francois Berthon, Agefi-Dow Jones; +33 (0)1 41 27 47 93; [email protected] ed: ECH
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
January 31, 2022 11:22 ET (16:22 GMT)