Dusseldorf – Plastic Omnium has signed an agreement to acquire the remaining 33.33 percent of Hella's stake in HBPO, giving it full ownership of the world leader in complex automotive front-end modules. The acquisition was signed for an equity value of around € 290 million. The transaction is still subject to regulatory approvals. Closing is expected in the fourth quarter of this year.
HBPO was founded in 2004 as a joint venture between Plastic Omnium, Hella and Behr. Since 2018, Plastic Omnium has held the majority of the shares with 66.66 percent.
The current acquisition is supporting the corporate strategy to increase the value-added content per vehicle, while leveraging the growing demand for electric vehicles.
A CMS team led by Counsel Artur Baron, who is currently seconded to the client, provided legal advice to Plastic Omnium. The advice included in particular corporate law aspects in connection with the joint venture agreement in the run-up to the transaction as well as corporate law advice in connection with the preparation and negotiation of the transaction documentation. Plastic Omnium is a long-standing client and is regularly advised by CMS in various areas, including corporate and tax law.
CMS Germany
Dr Dirk Jannott, Partner, Dusseldorf
Artur Baron, Counsel, Dusseldorf, both Corporate/M&A
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