Interest in .eth domain names has escalated since amazon.eth received a purchase bid of $1m this month
DGAP-News: HELLA GmbH & Co. KGaA / Key word(s): Disposal/Strategic Company Decision HELLA GmbH & Co. KGaA: Exit from joint venture: HELLA agrees sale of HELLA held HBPO shares to Plastic Omnium 28.07.2022 / 19:07 The issuer is solely responsible for the content of this announcement.
Exit from joint venture: HELLA agrees sale of HELLA held HBPO shares to Plastic Omnium
Further milestone reached in sharpening HELLA‘s profile as a technology company with Lighting, Electronics and Lifecycle Solutions at its core
Closing expected in the fourth quarter of 2022
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.
Please note: This text and corresponding photo material can also be found in our press database at: www.hella.com/press
HELLA is a listed, internationally positioned automotive supplier operating under the umbrella brand FORVIA. Within this factual group, HELLA stands for high-performance lighting technology and automotive electronics. At the same time, the company covers a broad service and product portfolio for the spare parts and workshop business as well as for manufacturers of special vehicles with its Business Group Lifecycle Solutions. HELLA has 36,000 employees at more than 125 locations worldwide and generated preliminary currency and portfolio-adjusted sales of € 6.2 billion in the fiscal year 2021/2022.
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 six 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
For more information, please contact:
Dr. Markus Richter HELLA GmbH & Co. KGaA Company spokesman Rixbecker Straße 75 Tel.: +49 (0)2941 38-7545 59552 Lippstadt / Germany Markus.Richter@forvia.com www.hella.com
28.07.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
HELLA GmbH & Co. KGaA
DE000A13SX22, DE000A3E5DP8
A13SX2, A3E5DP
Regulated Market in Frankfurt (Prime Standard), Munich, Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Tradegate Exchange; Luxembourg Stock Exchange
Company reinstates dividend after suspending it for three years
Global Sheet Face Mask Market 2022-2026 The analyst has been monitoring the sheet face mask market and it is poised to grow by $ 117. 23 mn during 2022-2026, accelerating at a CAGR of 7.New York, July 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Sheet Face Mask Market 2022-2026" - https://www.reportlinker.com/p06309950/?utm_source=GNW 29% during the forecast period. Our report on the sheet face mask market provides a holistic analysis, market size and
People who cannot get their hands on tickets officially are better off watching the match at home, a money expert has said.
The battle to keep Britain’s lights on is becoming increasingly complicated, as cleaner but intermittent supplies start to nudge out bulky fossil fuel stations and ageing nuclear stations start to close.
London’s top index of firms ended the day up 78.18 points, or 1.06%, at 7,423.43.
US GDP shrank by just over 0.2% in the quarter to June, or by 0.9% on an ‘annualised’ basis, stoking fears that the global economy is heading into recession amid soaring energy and inflation.
Global Polycystic Kidney Disease Drugs Market 2022-2026 The analyst has been monitoring the polycystic kidney disease drugs market and it is poised to grow by $ 510. 69 mn during 2022-2026, accelerating at a CAGR of 6.New York, July 28, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Polycystic Kidney Disease Drugs Market 2022-2026" - https://www.reportlinker.com/p05793635/?utm_source=GNW 7% during the forecast period. Our report on the polycystic kidney dis
Members of the drivers union Aslef at seven train operators will walk out for 24 hours over pay on Saturday.
The carmaker said more than 350 cars were awaiting parts by the end of June
European stock markets advanced on Friday in what was the best month since November 2020 for equity markets.
Global Fertility Testing Devices Market 2022-2026 The analyst has been monitoring the fertility testing devices market and it is poised to grow by $ 153. 91 mn during 2022-2026, accelerating at a CAGR of 5.New York, July 28, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Fertility Testing Devices Market 2022-2026" - https://www.reportlinker.com/p05729072/?utm_source=GNW 73% during the forecast period. Our report on the fertility testing devices market provi
Survey of motoring group members shows almost two-thirds drove less or reduced spending in other areas
All authorised providers will need to follow new rules, which include a ban on cold calling.
Interest in .eth domain names has escalated since amazon.eth received a purchase bid of $1m this month.
LONDON (Reuters) -British Airways-owner IAG on Friday returned to profit for the first time since the outbreak of the COVID-19 pandemic as demand for European flights between April and June boosted its battered finances. IAG posted an operating profit for the second quarter of 293 million euros ($300 million), compared with an operating loss of 967 million euros in the same period of 2021, the first time it has delivered a profit since 2019. "This result supports our outlook for a full year operating profit," Chief Executive Luis Gallego said.
LV=’s Wealth and Wellbeing Monitor found that some 38% of people said they are worried about money.
The Royal Navy has taken delivery of a new experimental testbed ship that will let sailors experiment with cutting-edge technology such as robot submarines and remote controlled boats.
IAG reduced its flight capacity forecast by 5% due to disruption at Heathrow for British Airways following the passenger cap.
Treasurer Jim Chalmers tells parliament that nation is facing a ‘once-in-a-generation’ challenge and real wages won’t grow until 2023-24 fiscal year
Former Conservative Party treasurer Lord Cruddas and his wife have seen their paper fortune drop by £100m after shares in their company CMC Markets crashed 20pc.