Faurecia Nears Deal for Car Parts Supplier Hella

(Bloomberg) — Faurecia SE is nearing a deal to acquire a majority stake in German automotive supplier Hella GmbH, according to people with knowledge of the matter.

The Hueck family, which owns about 60% of Hella’s shares, agreed on Saturday to accept an offer from the French company, the people said, asking not to be identified because the information is private. A decision could be announced as soon as today.

Nanterre-based Faurecia is poised to beat out competition from German car-parts maker Mahle GmbH and French rival Cie Plastic Omnium SA, which Bloomberg News has reported were competing to acquire the holding.

No final agreements have been reached, and talks could still fall apart, the people said. Representatives for Faurecia weren’t immediately available to comment. A representative for Hella declined to comment.

Lippstadt-based Hella, which traces its roots back to 1899, produces lighting and electronic components for cars, construction machinery and boats. Shares of the company have risen 19% this year through Friday, giving it a market value of 7 billion euros.

Last month, Knorr-Bremse AG, a supplier of braking systems for commercial vehicles and trains, abandoned its pursuit of the majority Hella holding after investors reacted poorly to the plans.

(Adds in second paragraph that Hueck family is said to have agreed to sell its stake)

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