Clifford Chance has advised the automotive supplier MAHLE on the sale of its 33.33 percent share in HBPO GmbH, a joint venture between MAHLE (at that time Behr), Hella GmbH & Co. KGaA and Plastic Omnium S.A.
The French plastics processor Plastic Omnium acquires the MAHLE shares and thus will hold 66.66 percent of the shares in HBPO in the future. With its exit from HBPO, MAHLE is focusing on its core business in order to be able to invest sustainably and comprehensively in new fields of technology, such as electromobility.
With 2,200 employees and a market share of 20 percent, HBPO is the global leader in the development, assembly and logistics of vehicle fronts, so-called front-end modules. In 2017, HBPO generated sales of around EUR 2 billion.
With a turnover of around EUR 12.3 billion and 77,000 employees, MAHLE is one of the largest German automotive suppliers. The product portfolio covers all important aspects of powertrain and air-conditioning technology – for combustion engines as well as for electric mobility. The group has 170 production sites in 34 countries.
Clifford Chance’s team comprised partner Dr. Christian Vogel (picture) and senior associate Simon Schmid (both Corporate/M&A).
Law Firms: Clifford Chance;
Clients: Mahle GmbH ;