Knorr-Bremse stops potential majority stake in Hella - Just Auto
Join Our Newsletter - Get important industry news and analysis sent to your inbox – sign up to our e-Newsletter here
X

Knorr-Bremse stops potential majority stake in Hella

By Simon Warburton 12 Jul 2021

Hella acquisition would not create sufficient additional value for shareholders says Knorr-Bremse.

Knorr-Bremse says it has stopped pursuing a potential acquisition of a majority stake in Hella.

Following what the supplier describes as “careful analysis,” the executive board determined the possible transfer of key technologies and products to its own product portfolio would not result in the realisation of expected synergies.

Knorr-Bremse maintains the primary focus remains organic growth and it continues to explore opportunities to increase the value of the company through acquisitions or partnerships.

“We have always considered opportunities for value-enhancing transactions with leading international companies, which is why we looked at Hella,” said Knorr-Bremse CEO, Jan Mrosik.

“However, we did not see the necessary synergies in the potential transfer of competencies, particularly in the commercial vehicle sector. As a result, we determined this acquisition would not create sufficient additional value for our shareholders.”

“Knorr-Bremse has a clear strategy based on profitable growth and a resilient business model. We will continue on our path of sustainable growth as a successful leading system supplier in the future.”