Mahle has increased its holding in the Behr Group from 36.85% to around 51% with the acquisition of all shares in the BWK holding company (BWK).
Furthermore, an integration agreement has been undertaken with the family shareholders, who hold the remaining shares along with Mahle, enabling the full integration of the Thermal Management business unit, which will trade as Mahle Behr, into the Group.
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The transaction is subject to approval by antitrust authorities, but the supervisory boards of the companies involved have already approved the purchase and integration agreement.
Mahle’s acquisition of the majority share in Behr, which was originally planned for early 2013, was delayed as a result of investigation proceedings against manufacturers of thermal systems for automobiles, including Behr, in connection with suspected restrictive business practices.
“We never gave up on our aim of acquiring the majority share in Behr,” said Mahle Group chairman, Heinz Junker. “However, this was subject to the procedures being clarified and any implications being addressed.
“In the meantime, it was possible to assess the potential risks and we are pleased we have now taken a decisive step forward with the majority acquisition and the conclusion of the integration agreement.
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By GlobalData“We intend to make sustained profitable sales in excess of EUR10bn (US$13bn) in the coming years.”
