Singer’s Elliott Builds Hella Stake in Bet on New Faurecia Offer

Paul Singer’s Elliott Investment Management LP has emerged with a holding of nearly 6.6% of voting shares in Hella GmbH & Co., amid hopes that French rival Faurecia SA will make another offer to remaining shareholders in the German car-parts maker.

Singer holds the voting rights via shares and instruments, according to a filing Monday. The move is a bet the French company will seek a so-called domination agreement with its German target, according to people familiar with the matter.

Spokespeople for Elliott and Faurecia declined to comment. A spokesperson for Hella wasn’t immediately available for comment.

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