Compagnie Plastic Omnium signed an agreement with the German group Mahle to acquire its 33.33% shareholding in the HBPO joint venture, up to then held equally by Plastic Omnium, Hella and Mahle-Behr.
11 Mar 2018 | 7167 Views | By Autocar Pro News Desk
Plastic Omnium has strengthened its position as a world-leading manufacturer of front-end modules.
On March1, 2018, Compagnie Plastic Omnium signed an agreement with the German group Mahle to acquire its 33.33% shareholding in the HBPO joint venture, up to then held equally by Plastic Omnium, Hella and Mahle-Behr. This acquisition was ...
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Plastic Omnium has strengthened its position as a world-leading manufacturer of front-end modules.
On March1, 2018, Compagnie Plastic Omnium signed an agreement with the German group Mahle to acquire its 33.33% shareholding in the HBPO joint venture, up to then held equally by Plastic Omnium, Hella and Mahle-Behr. This acquisition was made at an enterprise value of €350 million and will be financed by the group's own resources.
After this transaction, Plastic Omnium will hold 66.66% of HBPO and Hella 33.33%. The size and technological expertise of HBPO will likely enable Plastic Omnium to speed up its development in smart modular products faced with the technological challenges of tomorrow's autonomous and connected cars.