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Reviews HELLA share firmer pre-trading: HELLA sells front camera software business to Volkswagen

11:10  29 september  2020
11:10  29 september  2020 Source:   finanzen.net

Volkswagen parted ways with truck boss Renschler

 Volkswagen parted ways with truck boss Renschler © Reuters / Lucy Nicholson FILE PHOTO: LA Auto Show in Los Angeles Munich (Reuters) - Volkswagen parted ways with its commercial vehicle board member Andreas Renschler. Even MAN boss Joachim Drees, who sits under Renschler on the board of the commercial vehicle holding company Traton, has to go, as Traton announced on Tuesday evening without reason. Both leave the group in the middle of next week.

Die HELLA GmbH & Co. KGaA ist ein international operierender deutscher Automobilzulieferer. HELLA strengthens software competencies by founding new Global Software House. Joint venture will be funded by both partners in equal shares and is scheduled to start operations in autumn 2020.

Shares of Hella have fallen 16% in Frankfurt trading this year, giving the company a market value of about 4.6 billion euros. Unlike products from larger competitors like Mobileye NV, which sell integrated solutions with hardware and software packaged together, Aglaia’s software is designed to

HELLA GmbH & Co. KGaA sells its front camera software business to Volkswagen AG.

Hannelore Foerster/Getty Images © Provided by Finanz.net Hannelore Foerster / Getty Images

With the transaction, around half of the employees at the HELLA Aglaia subsidiary also change employers, as announced to HELLA . The purchase price to be paid will result in extraordinary income of around 100 million euros. The transaction is still subject to approval by the responsible antitrust authorities and is expected to be completed in the first quarter of the calendar year 2021.

How the HELLA share reacts

The HELLA share reacted to the announced sale of shares in pre-market trading on Tuesday with price gains. On the trading platform Tradegate, the papers of the automotive supplier recently rose by 1.4 percent to 43.00 euros.

The prospect of earnings is positive, but investors are not convinced of the strategic logic of the deal, a trader said in the morning. FRANKFURT (Dow Jones) / (dpa-AFX)

driving service with emission-free vehicles: Uber brings VW into the .
team in Berlin © Uber Uber-Green fleet is now getting an E-Golf reinforcement. US travel agent Uber relies on emission-free vehicles in the German capital. At Uber Green, the Californians are now working with VW. Hundreds of VW electric vehicles are already on the streets of Berlin for a ride-hailing service. For the service We Share from VW subsidiary Umi , the E-Golf is used to a large extent.

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