On March 1st, 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 enable Plastic Omnium to speed up its development in smart modular products faced with the technological challenges of tomorrow’s autonomous and connected car.
Plastic Omnium will unveil its strategic deployment plan after the relevant competition authorities have approved it.
The transaction shall now be submitted to the competition authorities concerned and should be finalized during 2018.