Skip navigation
Continental reorganizing as holding company.

Continental Prepares Powertrain for 2019 IPO

The supplier will create three divisions: Continental Rubber, Continental Automotive and Powertrain, with powertrain to be listed as early as mid-2019.

FRANKFURT, July 18 (Reuters) - German auto supplier Continental on Wednesday said it will list its powertrain division as early as mid 2019 as part of a broader strategy overhaul to break itself up into three divisions under a holding company structure starting in 2020.

Continental will create three divisions: Continental Rubber, Continental Automotive and Powertrain, the company said.

Continental added that the sale of a minority stake in the Rubber group, possibly through a stock market flotation, is an option for future.

The carve-out of the Powertrain group sector will lead to estimated operational costs of 350 million euros, Continental said, adding that a large part of that will be incurred in 2018 and 2019. (Reporting by Edward Taylor Editing by Arno Schuetze)

View Original Article

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish