Faurecia has acquired 79.5% of Hella’s shares and stated that the total value—cash and shares—represents an investment of EUR 5.3 billion (CAD $7.7 billion).

This will allow Faurecia to boost its presence in self-driving technology and electrification. Patrick Koller, Faurecia CEO had this to say about the acquisition:

“Today, Hella and Faurecia are opening the first chapter of the newly combined Group. This transforming acquisition brings together two complementary and profitable companies to create the 7th largest global automotive supplier with a highly advanced technology portfolio. Our 2025 combined Group sales ambitions of €33bn represents a significant leverage and we will now work together effectively to immediately start implementing the significant and confirmed synergies that have been identified and create sustainable value for all our stakeholders.”