MUNICH — The house owners of Hella will decide a purchaser for his or her majority stake this weekend, the German automotive lighting group stated on Thursday.

An individual conversant in the matter stated Hella had acquired binding affords from three bidders — French suppliers Faurecia and Plastic Omnium, and Germany’s Mahle.

All three affords are on the anticipated stage of round 60 euros per share, the particular person stated.

That value, based mostly on the three-month common of Hella’s share value, values the group at about 7 billion euros ($8.2 billion). The inventory closed at 64.50 euros on Wednesday and fell 2.6 p.c to 62.86 euros on Thursday’s information of the affords.

Hella’s founding household, which is searching for a purchaser for its 60 p.c stake, is working with funding financial institution Rothschild on the transaction, sources advised Reuters earlier this week.

Underneath German takeover guidelines, shopping for a 60 p.c stake in Hella would set off a takeover bid for the remaining shares.

Hella stated on Thursday it had finalized negotiations with all patrons on a enterprise mixture settlement, every of which it says was acceptable and guarded the pursuits of the corporate and its stakeholders.

It didn’t touch upon who the bidders have been or on what value they have been providing.

Hella ranks No. 41 on the Automotive Information checklist of the highest 100 international suppliers with worldwide gross sales to automakers of $5.5 billion throughout its 2020 fiscal yr.