Hella, Mahle Sell Behr-Hella Thermocontrol Joint Venture to Taiwan's AUO
03 October 2023 - 12:11AM
Dow Jones News
By Adria Calatayud
German auto suppliers Hella and Mahle are selling their
Behr-Hella Thermocontrol joint venture to Taiwan's AUO in a deal
that values the business at 600 million euros ($634.4 million),
including debt, the companies said Monday.
Hella expects to book a profit of around EUR100 million for the
sale of its 50% stake in BHTC, it said. Mahle is selling its
respective 50% stake.
The sale follows a process that began when France's
Faurecia--now called Forvia--acquired a majority stake in Hella,
the German company said, adding that the deal allows Hella to focus
on its core businesses.
Mahle Chief Executive Arnd Franz said the company aims to
accelerate its transformation with a focus on electrification,
thermal management, and components for sustainable combustion
engines.
The sale is expected to be completed by mid-2024, subject to
regulatory approvals, the companies said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
October 02, 2023 08:56 ET (12:56 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
HELLA GmbH & Co KGaA (TG:HLE)
Historical Stock Chart
From Apr 2024 to May 2024
HELLA GmbH & Co KGaA (TG:HLE)
Historical Stock Chart
From May 2023 to May 2024