HELLA Completes Exit From HBPO Joint Venture

(RTTNews) - HELLA GmbH & Co. KgaA said it completed the exit from the joint venture HBPO Beteiligungsgesellschaft mbH. It successfully transferred the 33.33 percent share in the joint venture to the previous co-shareholder Plastic Omnium. The deal price amounts to 290 million euros, including a dividend of about 8 million euros.

HELLA and Plastic Omnium had agreed on a corresponding share purchase and assignment agreement in July this year.

HBPO is a supplier of highly integrated front-end modules, with sales of EUR 2.2 billion in 2021. The company employs around 2,800 people at more than 30 locations worldwide. HBPO was founded in 2004 as an equal joint venture between the automotive suppliers HELLA, Behr (now MAHLE) and Plastic Omnium. In 2018, MAHLE sold its shares in the joint venture to Plastic Omnium.