FRANKFURT — French supplier Faurecia on Saturday agreed to acquire a majority stake in German automotive lighting group Hella and will make a public tender offer for the remaining shares for 60 euros ($70.75) apiece.
Faurecia struck the deal with a pool of family-related shareholders over their 60 percent stake, Hella said in a statement on Saturday.
Hella ranks No. 41 on the Automotive News list of the top 100 global suppliers with worldwide sales to automakers of $5.5 billion during its 2020 fiscal year.