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Knorr-Bremse Says No Longer Pursues Acquisition Of 60% Of Shares In HELLA

Knorr-Bremse AG (KNRRY.PK,KNBHF.PK) confirmed that it is no longer pursues the acquisition of 60% of the shares in HELLA GmbH & Co. KGaA held by the founding family.

Knorr-Bremse noted that its executive board determined that the possible transfer of key technologies and products to its own product portfolio would not result in the realization of the expected synergies.

In late-June, Knorr-Bremse said it was interested in acquiring the block of shares amounting to 60% of the shares in HELLA GmbH & Co. KGaA held by the founding family.

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