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Hella's controlling shareholders sell 1.1 mln shares
December 1, 2017 / 1:34 PM / 15 days ago

Hella's controlling shareholders sell 1.1 mln shares

DUESSELDORF, Germany, Dec 1 (Reuters) - The families that control Hella have sold 1.1 million shares, equivalent to about 1 percent of the company, the German automotive supplier said on Friday.

The shares were placed by Bankhaus Lampe for 50 euros apiece, a roughly 3 percent discount to Thursday’s closing price.

The placement was the second by the Behrend and Hueck families this year. They earlier sold 2.24 million shares for around 84 million euros ($100 million).

The families hold around 60 percent of Hella via a pool agreement that runs until at least 2024.

$1 = 0.8415 euros Reporting by Anneli Palmen; writing by Maria Sheahan; editing by Jason Neely

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