Automotive supplier Faurecia will in future hold almost 80 percent of the shares in the lighting and electronics specialist. The transaction creates the seventh largest automotive supplier in the world.
The acquisition of Hella will create the seventh largest automotive supplier in the world. (Image: Hella)
Faurecia has successfully completed the acquisition of Hella after receiving all the necessary regulatory approvals. The supplier to the automotive industry has thus acquired 79.5% of the shares at the same time, including the 60% share package of the Hella pool shareholders and around 19.5% from the public takeover bid that ended in November 2021. The PLASTVERARBEITER reported on the planned takeover back in August last year.
Hella continues to operate as a legally independent company
"We are now opening a new chapter in our company’s history," says Dr. Rolf Breidenbach, chairman of the Hella board of management. "Even though we will continue to operate as a legally independent company, our new majority shareholder Faurecia opens up additional opportunities that we would not have had on our own. By pooling our specific strengths, we will be able to drive change in our industry even more effectively and shape the mobility of tomorrow."
In the course of the closing, the takeover offer has been settled accordingly and the offer price of 60 euros per share has been instructed. The former pool shareholders are now Faurecia’s largest shareholder with a stake of around 9 percent. With this in mind, it will be proposed to Faurecia’s next shareholders’ meeting that a representative of the family pool be appointed to Faurecia’s Board of Directors.
Sustainability in the automotive industry
In the future, the automotive industry must respond to increasing social pressure and legal requirements for the sustainable use of the resources used, this applies especially to plastics. As a result, recycling the plastics used in cars is becoming increasingly important and is developing into a recognizable competitive advantage, especially in international comparison. All important information summarized here
With extensive synergies one wants to grow further in central core markets
The acquisition is intended to create extensive synergy effects in order to further expand our market position in key growth areas such as electromobility, autonomous driving and vehicle interior design.
Faurecia CEO Patrick Koller says: "Hella and Faurecia complement each other perfectly, in terms of technologies, customers and markets. We are therefore pleased that Hella is now part of the Faurecia Group. This will enable us to serve essential future topics even better, both companies will thus receive additional impetus. Above all, Hella and Faurecia are healthy, profitable companies with a strong future. We will therefore work together effectively from day one and directly address the potentials we have identified in advance."