Family-owned German headlight maker Hella said today it would raise €278 million ($349.4 million) in a stock market flotation to fund international expansion and innovation.
Hella has placed about 11.1 million shares with institutional investors at €25 apiece, in a move that it said would open the door to a listing on the Frankfurt stock exchange.
By Ben Klayman and Paul Lienert
U.S. auto safety regulators on Thursday ordered Japanese supplier Takata Corp <7312.T> to provide documents and answer questions under oath related to the government’s ongoing probe of potentially defective Takata air bags in millions of U.S. vehicles.
by Ben Klayman
Chrysler Group said on Thursday that it was recalling 33,443 light trucks in two separate campaigns to prevent false warnings from the tire pressure monitor systems.
Fiat Chrysler Automobiles said on Wednesday it would issue a mandatory convertible bond for $2.5 billion and place up to 100 million of its shares to shore up funding for its €48 billion ($61 billion) investment plan.
Volkswagen Group posted higher-than-expected operating profit in the third quarter, boosted by strong demand for Audi and Porsche models in Europe and China.
