FAURECIA
Hella takeover offer expires / Stock ownership hits 79.5%
The company now controls nearly 80% of Hella (Photo: Faurecia)
The purchase offer to shareholders of German lighting specialist Hella (Lippstadt; www.hella.com) brought new owner Faurecia (Nanterre / France; www.faurecia.com) almost another 20% of total shares. After the deadline, the French company reported control of 79.5% of Hella.

The current level of controlling interest includes the 60% stake Faurecia acquired from previous Hella owner families Hueck and Röpke. The takeover price of some EUR 5.3 bn was short of the expected EUR 6.7 bn, had the company been acquired in full.

The deal is still expected to close in early 2022, subject to the approval of the competition authorities. Nevertheless, Faurecia said it plans to start restructuring both companies shortly (see Plasteurope.com of 18.08.2021).

Reuters reported on 19 November that Paul Singer, who heads activist investor Elliot, now controls nearly 11% of Hella, adding that Faurecia has failed to obtain the 90% of shares needed to delist the company.
24.11.2021 Plasteurope.com [249067-0]
Published on 24.11.2021
Faurecia: 79,5 Prozent der Hella-Anteile erworbenGerman version of this article...

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