The French auto supplier Faurecia is expanding its influence on its competitor Hella. By the end of the acceptance period, Hella investors had offered Faurecia 79.5 percent of the shares, the French company announced on Tuesday. This includes 60 percent of the Hella family shareholders Hueck and Röpke. Faurecia wants to pay for the purchase in cash and own shares. The remaining Hella shareholders were able to sell their shares by November 11th at a price of 60 euros per share. On Monday it was also announced that the activist investor Paul Singer had bought 6.57 percent (as of November 8) at Hella. The US investor often secures minority shares in companies that are about to be taken over in order to later obtain a higher price for his shares.
Auto supplier – Faurecia secures almost 80 percent of Hella – Wirtschaft
