Closing of HELLA’s divestment of its 33% stake in HBPO to its co-shareholder, Plastic Omnium
Following the approval of the responsible regulatory authorities, HELLA, company of the FORVIA Group, announced today the successful closing of the sale of its 33.33% stake in the joint-venture HBPO to its co-shareholder, Plastic Omnium, under the conditions and deadline that were announced on July 28.
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.
This sale, closed for a price of c. €290 million, 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.
HELLA’s announcement is available on its website: www.hella.com/press