Global automotive supplier HELLA, which operates under the umbrella brand FORVIA, has agreed the sale of its 33.33 percent stake in HBPO Beteiligungsgesellschaft mbH (“HBPO”) to its co-shareholder, Plastic Omnium. The relevant share purchase and assignment agreement was signed today. The agreed purchase price amounts to 290 million euros (cum dividend of around 8 million euros). The transaction is subject to customary regulatory approvals. Closing is expected in the fourth quarter of 2022.
By selling its stake in HBPO, global automotive supplier HELLA is continuing its proven course of consistent portfolio management. HELLA CEO Michel Favre says: “Together with our partners, we have successfully positioned HBPO as one of the leading suppliers of highly integrated front-end modules. In order to further sharpen our profile as a focused technology company with Lighting, Electronics as well as Lifecycle Solutions at its core, we have now decided to exit the joint venture. By purchasing our shares in the joint venture, Plastic Omnium will get the opportunity to further increase the focus of HBPO’s development, offering stakeholders a strong outlook.”
HBPO, headquartered in Lippstadt (Germany), was established in 2004 as a joint venture between three automotive suppliers, HELLA, Behr (today MAHLE) and Plastic Omnium. MAHLE sold its 33.33 percent share to Plastic Omnium in 2018. Together, the partners achieved their goal of establishing one of the leading suppliers of integrated front-end modules. In the 2021 calendar year, HBPO generated € 2.2 billion in revenue, and has 2,800 employees at more than 30 locations in Europe, Asia and America.