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Conti examines spin-off of parts of its auto parts business

2023-12-04T13:07:08.560Z

Highlights: Conti examines spin-off of parts of its auto parts business. CEO Nikolai Setzer announced on Monday at the Dax Group's Capital Markets Day. Initial focus is on the business with car cockpits, which has so far generated sales of 3.5 billion euros. However, Setzer ruled out a complete sale of the automotive division of the Contitech division. He said everything is possible, from an entry of an investor, a joint venture to a sale or IPO.



Status: 04.12.2023, 13:51 PM

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View of the logo of the tire manufacturer Continental and a stop sign. © Roberto Pfeil/dpa

Continental is putting parts of its automotive supply business to the test. Following the possible spin-off of the automotive division of the Contitech division, the company is now also examining the possibility of spinning off parts of the automotive division itself, Continental CEO Nikolai Setzer announced on Monday at the Dax Group's Capital Markets Day. Specifically, the initial focus is on the business with car cockpits, which has so far generated sales of 3.5 billion euros.

Hanover - From an entry of an investor, a joint venture to a sale or IPO, everything is possible. However, he ruled out a complete sale of the automotive division. Dpa

Source: merkur

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