Continental : to also explore spin-off for powertrain unit
(CercleFinance.com) - Continental said that it is considering the potential spin-off of its powertrain unit, alongside the ongoing preparations for a potential partial IPO of the division.
Citing "hard-to-predict" conditions surrounding a potential partial IPO in 2020, the German auto parts maker said it is examining the possibility of a complete spin-off of this division, named "Vitesco Technologies".
Continental said it will also consider the prospect of its subsequent flotation.
"This creates further maneuvering room for Continental, given an accelerating trend toward powertrain electrification," it said.
The Continetal share is currently down 1.1% in Frankfurt.
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