The agreed purchase price is c. €290 million, and the transaction is subject to customary regulatory approvals, with a closing expected in the fourth quarter of 2022.

With this decision, HELLA is continuing its proven course of consistent portfolio management, further sharpening its profile as a focused technology company with Lighting, Electronics and Lifecycle Solutions at its core.

HELLA’s announcement is available on its website: www.hella.com/press

This announcement marks a first significant step in the FORVIA Group’s non-strategic asset divestment program of €1 billion by the end of 2023, as part of the Group’s plan to reduce its consolidated net debt following the acquisition of HELLA.

This divestment represents close to 30% of the total target for the divestment plan and confirms this program is on track as announced, both in terms of total amount and deadline.