Nanterre (
HELLA’S ANNOUNCED DIVESTMENT OF ITS 33% STAKE IN THE JOINT-VENTURE HBPO FOR €290 MILLION MARKS A FIRST SIGNIFICANT STEP
IN FORVIA’S TOTAL DIVESTMENT PROGRAM OF
HELLA, company of the
The agreed purchase price is c. €290 million, and the transaction is subject to customary regulatory approvals, with a closing expected in the fourth quarter of 2022.
With this decision, HELLA is continuing its proven course of consistent portfolio management, further sharpening its profile as a focused technology company with Lighting, Electronics and Lifecycle Solutions at its core.
HELLA’s announcement is available on its website: www.hella.com/press
This announcement marks a first significant step in the FORVIA Group’s non-strategic asset divestment program of €1 billion by the end of 2023, as part of the Group’s plan to reduce its consolidated net debt following the acquisition of HELLA.
This divestment represents close to 30% of the total target for the divestment plan and confirms this program is on track as announced, both in terms of total amount and deadline.
Contacts Press Christophe MALBRANQUE Media Relations Director christophe.malbranque@forvia.com |
Youssara ID CHRIFE
Media relations specialist
Tel: +33 (0)6 15 58 40 62
youssara.idchrife@forvia.com
Analysts/Investors Marc MAILLET Head of Investor Relations Tel: +33 (0)1 72 36 75 70 marc.maillet@forvia.com | Matthieu FERNANDEZ Deputy Head of Investor Relations Tel: +33 (0)6 22 02 01 54 matthieu.fernandez@forvia.com | |
About FORVIA Faurecia
In 2021, the Group reported total turnover of €15.6 billion.
About FORVIA
FORVIA comprises the complementary technology and industrial strengths of
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Faurecia annoucement DEF
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