The world's seventh largest automotive supplier was born Faurecia acquired HELLA to become FORVIA

On February 7, Faurecia announced the completion of its acquisition of Hela, an automotive lighting and electronics specialist. Faurecia acquired approximately 79.5% of HELLA's shares, including a 60% stake held by HELLA's joint shareholders, and approximately 19.5% as part of the public takeover offer concluded on November 11, 2021. The transaction created the world's seventh-largest automotive supplier and global market leader in key technology areas.

Dr. Rolf Breidenbach, CEO of HELLA, said: "We are opening a new chapter in the company's history. While we will continue to operate as a legally independent company, our new majority shareholder, Faurecia, brings us more development opportunities than we can on our own. By integrating our specific strengths, we will be better able to drive industry change and shape the mobility of the future." ”

Patrick Koller, CEO of Faurecia, said: "Hella and Faurecia complement each other in terms of technology, customers and market access. Therefore, we are pleased that HELLA is now a member of the Faurecia Group. This will allow us to better serve the key areas of the future, and the two companies will gain more motivation as a result. Most importantly, Hela and Faurecia are healthy, profitable, promising companies. As a result, we worked together efficiently from day one and were able to immediately resolve potential issues identified upfront. ”

In the course of closing the transaction, the Takeover Offer has been settled accordingly and HELLA has now instructed payments to HELLA shareholders who have made shares available pursuant to the Takeover Offer at an offer price of EUR 60.00 per share. Hella's original joint shareholders hold about 9% of Faurecia's shares, becoming the largest shareholder of The Faurecia Group. As a result, Faurecia will propose the appointment of a representative of the family's joint shareholders to the Faurecia Board of Directors at the next general meeting.

To further increase the company's flexibility and align its architecture with Faurecia, HELLA will be comprised of three divisions: Automotive Lighting, Automotive Electronics and Lifecycle Solutions. The newly formed Lifecycle Solutions division, which combines aftermarket and specialty OE businesses, will be managed by Dr. Lea Corzilius, in addition to her role as Managing Director of HR at HELLA.

Pending his departure in late June 2022, DR. Rolf Breidenbach, CEO of HELLA, will continue to be closely supportive of integration-related matters and will continue to support the post-merger Fact Group in a consultative capacity thereafter

On February 4, 2022, it was announced that DR. Rolf Breidenbach, CEO of HELLA, has reached an agreement with the Shareholders' Committee to terminate his CEO contract on June 30, 2022, after more than 18 years of service. Dr Rolf Breidenbach said: "With Faurecia becoming the new majority shareholder of HELLA, this has paved the way for success for the future. The two companies complement each other. "Pending his departure, he will continue to closely support the integration with Faurecia and has agreed to advise Fact Group after June 2022." Faurecia CEO Patrick Koller thanked Dr. Breidenbach for his constructive cooperation over the past few months. Carl-Peter Forster, on behalf of the Shareholders' Committee, expresses his sincere thanks to Dr. Breidenbach.