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Conti / Schaeffler: Suppliers move out of merger

Schaeffler
Conti /Schaeffler
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D as emerges from the legally binding securities prospectus for investors on the capital increase, reports the 'Handelsblatt' in the Monday edition (11.1.). According to informed circles, the supervisory authority BaFin wants to approve the paper on Monday.

More cooperation at project level

No merger is planned for the next twelve months , According to 'Handelsblatt', Continental's supervisory board groups specified the time frame. Last Wednesday, Conti's supervisory board resolved a capital increase of a good billion euros. A bank consortium is taking over the 31 million new shares on behalf of institutional investors. This involves systems and components for engines and transmissions. In the late summer of last year, Schaeffler boss Jürgen Geißinger presented a concept in Conti's control committee that would combine the automotive supplier divisions of both companies under the umbrella of a new holding company and redistribute the debts.

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