Continental: planned demerger under consideration
(CercleFinance.com) - Continental shares are down just 1% doing better than a more depressed market in Frankfurt (-3% for the DAX) as the management board has said that it will carry out a further detailed evaluation of a demerger and IPO of its automotive division.
Preparations for a demerger are already underway, and a decision on the matter is due to be taken by the management board in Q4 2024. If approved by the AGM in 2025, the demerger would take place by the end of 2025.
The aim of having two independent companies is to exploit the full value potential of Continental, the German group says, which in this configuration would retain the profitable tyre and ContiTech divisions under its aegis.
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Preparations for a demerger are already underway, and a decision on the matter is due to be taken by the management board in Q4 2024. If approved by the AGM in 2025, the demerger would take place by the end of 2025.
The aim of having two independent companies is to exploit the full value potential of Continental, the German group says, which in this configuration would retain the profitable tyre and ContiTech divisions under its aegis.
Copyright (c) 2024 CercleFinance.com. All rights reserved.