FRANKFURT — French provider Faurecia will get a majority stake in German automotive lights group Hella, trumping rival bidders and generating the world’s seventh-major participant.
Faurecia will obtain a 60 p.c stake in Hella from the founding Hueck family by a mixture of income and inventory, Hella mentioned in a assertion on Saturday. The Hueck loved ones will consider up to 9 % of the merged business.
Faurecia mentioned in a different assertion that the transaction represented an believed whole enterprise price of 6.7 billion euros ($7.90 billion) for 100 percent of Hella.
People familiar with the matter beforehand advised