In another sign of a pick-up in supplier activity, family-owned Hella Hueck is reported to be planning an initial public offering later this year.
Bloomberg, citing unnamed sources said to have knowledge of the IPO, reported that no final decision had been made by the family. If the listing on the Frankfurt stock exchange goes ahead, it could be the largest IPO in Germany this year.
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Hella, based in Lippstadt, near Dusseldorf, is reported to be working with Citigroup and Bankhause Lampe on the IPO. The company had annual sales of more than EUR5bn (US$6.7bn) last year.
Earlier this month, ZF Friedrichshafen said it was interested in a takeover of TRW Automotive which would create the world’s second largest automotive supplier. TRW said it was examining the offer as well as other strategic possibilities.
Bloomberg noted that this year, the volume of European IPOs had risen to its highest level since 2006.
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