MAHLE Behr GmbH & Co. KG, a subsidiary of MAHLE Group, and HELLA GmbH & Co. KGaA (FORVIA HELLA) announced the successful completion of the sale of their respective 50 percent stake in the joint venture Behr-Hella Thermocontrol (BHTC) to AUO Corporation.
An agreement to sell the shares was signed on October 2, 2023, with the transaction now approved by the relevant authorities, the companies said. The total purchase price is based on an enterprise value of € 600 million.
The sale of the BHTC shares “is the result of constructive discussions between MAHLE and FORVIA HELLA regarding the future positioning and orientation of BHTC,” the companies said.
These talks were initiated against the background of a change of control clause in the joint venture agreement after FORVIA (formerly: Faurecia) had taken over the majority shareholding in FORVIA HELLA.
