Faurecia has officially launched its public takeover of Hella, which is due to conclude by the middle of November. The combination of Faurecia and Hella will create the seventh-largest global automotive supplier, which Faurecia says will operate in key market areas including development of the cockpit of the future, ADAS and AD systems, electric mobility and lifecycle value management.
Faurecia says the combined group will become a major technology player focused on six activities, encompassing electronics, lighting, seating, interiors and clean mobility, with each of these sectors projected to exceed US$3.5bn in sales.
The public takeover follows an announcement in August that Faurecia has reached an agreement with Hella to purchase a 60% stake for €60 (US$70) per share paid through a mix of cash and Faurecia shares.
