Faurecia will hold 79.5% of Hella and will be able to implement strategy for accelerating value creation as from Day 1 after closing
16 November 2021 - 10:00AM
Faurecia will hold 79.5% of Hella and will be able to implement
strategy for accelerating value creation as from Day 1 after
closing
Nanterre (France), November 16, 2021
FINAL
RESULTS OF
FAURECIA TAKEOVER OFFER FOR HELLA
FAURECIA WILL HOLD
79.5% OF
HELLA AND WILL BE ABLE TO IMPLEMENT
STRATEGY FOR ACCELERATING VALUE CREATION AS FROM DAY
1 AFTER
CLOSING
The additional acceptance period for the
voluntary public takeover offer launched on 27 September 2021 by
Faurecia for Hella GmbH & Co. KGaA expired on 11 November 2021
and a total of 21,662,359 shares have been tendered during the
offer period by Hella shareholders.
Together with the
shareholding of 60% to be
acquired from the family pool, Faurecia will hold
79.5% of the shares in Hella upon
completion of the takeover offer. It will represent for
Faurecia an investment of 5.3 billion euros, to be compared to 6.7
billion euros for 100% of Hella shares at €60 per share, allowing
higher financial flexibility for Faurecia.
With this stake of 79.5% (including the
acquisition of the 60% from the Family pool) and thanks to the
legal form of Hella as GmbH & Co. KGaA, Faurecia confirms the
execution of identified cost synergies and optimization plan from
Day 1 after closing.
Since the announcement of the transaction on 14
August 2021, Faurecia and Hella have progressed with the
preparation of the post-closing integration and are fully aligned
to operate efficiently immediately after closing.
Patrick Koller, Chief Executive Officer
of Faurecia declared:
“Faurecia welcomes the positive outcome of the voluntary takeover
offer for Hella. We have designed a sustainable organization and
governance which allows us to be effective starting Day 1. Our
strategic combination with Hella will enable us to accelerate our
transformation and deliver long-term value creation for all our
stakeholders.”
The completion of the transaction, including the
settlement of the public tender offer, is still subject to
remaining approvals by relevant regulatory authorities. The
transaction is expected to close early 2022.
For more information about the offer and update
on approvals by the relevant regulatory authorities, see the
website: www.faurecia-offer.com
Press contact |
Analysts/Investors contact |
Eric Fohlen-WeillCorporate Communications DirectorTel.: +33 (0)1 72
36 72 58eric.fohlen-weill@faurecia.com |
Marc MailletInvestor Relations Vice PresidentTel.: +33 (0)1 72 36
75 70marc.maillet@faurecia.com |
|
Matthieu
FernandezDeputy Investor RelationsTel.: +33 (0)6 22 02 01
54matthieu.fernandez@faurecia.com |
About FaureciaFounded in 1997,
Faurecia has grown to become a major player in the global
automotive industry. With 266 industrial sites, 39 R&D centres
and 114,000 employees in 35 countries, Faurecia is a global leader
in its four areas of business: seating, interiors, Clarion
Electronics and clean mobility. The Group’s strong technological
offering provides carmakers with solutions for the cockpit of the
future and sustainable mobility. In 2020, the Group reported total
turnover of €14.7 billion. Faurecia is listed on the Euronext Paris
market and is a component of the CAC Next 20 index. Find out more
at: www.faurecia.com
Disclaimer
This press release, from which no legal
consequences may be drawn, is for information purposes only. This
press release must not be published, broadcasted or distributed,
directly or indirectly, in any country in which the distribution of
this information is subject to legal restrictions. The release,
publication or distribution of this press release in certain
countries may be subject to legal or regulatory restrictions.
Therefore, persons located in jurisdictions where this press
release is released, published or distributed must inform
themselves about such restrictions and comply with them. Faurecia
disclaims any responsibility for any violation of such
restrictions.
This press release contains forward-looking
statements with respect to Faurecia`s business, strategy and plans.
They may prove to be inaccurate in the future and are subject to a
number of risk factors. Neither Faurecia, nor any of its
subsidiaries assumes any obligation to update publicly any
forward-looking information or statement or objectives contained in
this document whether as a result of any new information, any
change in events, conditions or otherwise.
The offer is subject to the exemptions under the
U.S. Securities Exchange Act of 1934 as amended (the “U.S. Exchange
Act”). Accordingly, the offer will be subject to certain procedural
requirements, including with respect to the settlement procedures,
which are different from those applicable under the U.S. Exchange
Act.
- 2021-11-16 - PR PTO final results - final
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