Nanterre (France), July 28th, 2022
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 1 BILLION EUROS BY 2023
HELLA, company of the FORVIA Group, announced today that it has agreed the sale of its 33.33% stake in HBPO to its co-shareholder, Plastic Omnium.
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.
Youssara ID CHRIFE
Media relations specialist
Tel: +33 (0)6 15 58 40 62
About FORVIA Faurecia
Faurecia, company of the Group FORVIA, is a global automotive technology leader. With 257 industrial sites, 39 R&D centers and 111,000 employees in 33 countries, Faurecia operates through four areas of business: Seating, Interiors, Clarion Electronics and Clean Mobility.
In 2021, the Group reported total turnover of €15.6 billion. Faurecia is listed on the Euronext Paris market and is a component of the CAC Next 20 index. www.faurecia.com
FORVIA comprises the complementary technology and industrial strengths of Faurecia and HELLA. With over 300 industrial sites and 77 R&D centers, 150,000 people, including more than 35,000 engineers across 40+ countries, FORVIA provides a unique and comprehensive approach to the automotive challenges of today and tomorrow. Composed of 6 business groups with 24 product lines, and a strong IP portfolio of over 14,000 patents, FORVIA is focused on becoming the preferred innovation and integration partner for OEMS worldwide. FORVIA aims to be a change maker committed to foreseeing and making the mobility transformation happen. www.forvia.com