Germany's Hella GmbH & Co. KGaA said it is exploring strategic options for its wholesale activities and has initiated a corresponding structured auction process.

The auto parts supplier said it is in discussions with potential investors and will take an "unprejudiced" decision on the sale of the wholesale business after the submission of final bids. The company denied media reports that it has identified a "preferred bidder" for the business.

The wholesale activities are conducted under the Nordic Forum organization.