French automotive group Faurecia and German car parts supplier Hella said on Monday that they have merged into a group called Forvia, which aims for its sales revenue to reach $37.72 billion in 2025.

HELLA, company of the FORVIA Group, announced today that it has agreed the sale of its 33.33% stake in HBPO to its co-shareholder, Plastic Omnium.

French auto parts supplier Faurecia launched a 705 million euro ($758 million) capital increase to fund its acquisition of German rival Hella, it said on Friday.