Brief: Hella And TMD Friction Agree On Complete Takeover By Hella

HELLA GmbH & Co KgaA

01/12/2023 08:02

Dec 1 (Reuters) - HELLA GmbH & Co KGaA  HLE.DE :
    * BRAKE JOINT VENTURE HELLA PAGID: HELLA AND TMD FRICTION
AGREE ON
COMPLETE TAKEOVER BY HELLA
    * TO ACQUIRE 50 PERCENT SHARES CURRENTLY HELD BY TMD
FRICTION IN
JOINT VENTURE HELLA PAGID
    * FROM 1ST OCTOBER 2024, HELLA TO BEGIN DISTRIBUTING BRAKE
PRODUCTS UNDER HELLA BRAND
    * TMD FRICTION TO CONTINUE TO SUPPLY BRAKE PADS TO HELLA
    * TMD FRICTION TO REGAIN SOLE CONTROL OF PAGID BRAND AND TO
EXPAND
SALES OF BRAKE PRODUCTS UNDER THIS BRAND FROM 1ST OCTOBER 2024
    * PARTIES HAVE AGREED NOT TO DISCLOSE DETAILS OF PURCHASE
PRICE

Further company coverage:  HLE.DE 

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