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Nanterre (France), November 16, 2021
FINAL RESULTS OF FAURECIA TAKEOVER OFFER FOR HELLA
FAURECIA WILL HOLD 79.5% OF HELLA AND WILL BE ABLE TO IMPLEMENT STRATEGY FOR ACCELERATING VALUE CREATION AS FROM DAY 1 AFTER CLOSING
The additional acceptance period for the voluntary public takeover offer launched on 27 September 2021 by Faurecia for Hella GmbH & Co. KGaA expired on 11 November 2021 and a total of 21,662,359 shares have been tendered during the offer period by Hella shareholders.
Together with the shareholding of 60% to be acquired from the family pool, Faurecia will hold 79.5% of the shares in Hella upon completion of the takeover offer. It will represent for Faurecia an investment of 5.3 billion euros, to be compared to 6.7 billion euros for 100% of Hella shares at €60 per share, allowing higher financial flexibility for Faurecia.
With this stake of 79.5% (including the acquisition of the 60% from the Family pool) and thanks to the legal form of Hella as GmbH & Co. KGaA, Faurecia confirms the execution of identified cost synergies and optimization plan from Day 1 after closing.
Since the announcement of the transaction on 14 August 2021, Faurecia and Hella have progressed with the preparation of the post-closing integration and are fully aligned to operate efficiently immediately after closing.
Patrick Koller, Chief Executive Officer of Faurecia declared: “Faurecia welcomes the positive outcome of the voluntary takeover offer for Hella. We have designed a sustainable organization and governance which allows us to be effective starting Day 1. Our strategic combination with Hella will enable us to accelerate our transformation and deliver long-term value creation for all our stakeholders.”
The completion of the transaction, including the settlement of the public tender offer, is still subject to remaining approvals by relevant regulatory authorities. The transaction is expected to close early 2022.
For more information about the offer and update on approvals by the relevant regulatory authorities, see the website: www.faurecia-offer.com
Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With 266 industrial sites, 39 R&D centres and 114,000 employees in 35 countries, Faurecia is a global leader in its four areas of business: seating, interiors, Clarion Electronics and clean mobility. The Group’s strong technological offering provides carmakers with solutions for the cockpit of the future and sustainable mobility. In 2020, the Group reported total turnover of €14.7 billion. Faurecia is listed on the Euronext Paris market and is a component of the CAC Next 20 index. Find out more at: www.faurecia.com
This press release, from which no legal consequences may be drawn, is for information purposes only. This press release must not be published, broadcasted or distributed, directly or indirectly, in any country in which the distribution of this information is subject to legal restrictions. The release, publication or distribution of this press release in certain countries may be subject to legal or regulatory restrictions. Therefore, persons located in jurisdictions where this press release is released, published or distributed must inform themselves about such restrictions and comply with them. Faurecia disclaims any responsibility for any violation of such restrictions.
This press release contains forward-looking statements with respect to Faurecia`s business, strategy and plans. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither Faurecia, nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement or objectives contained in this document whether as a result of any new information, any change in events, conditions or otherwise.
The offer is subject to the exemptions under the U.S. Securities Exchange Act of 1934 as amended (the “U.S. Exchange Act”). Accordingly, the offer will be subject to certain procedural requirements, including with respect to the settlement procedures, which are different from those applicable under the U.S. Exchange Act.