Continental Specifies Automotive Spin-Off And Initiates Sale Of Contitech Unit OESL

T-Reuters

2024-12-18

CONTINENTAL AG :Specifies Automotive Spin-Off And Initiates Sale Of Contitech Unit Oesl.Future Independent Automotive Company To Be Listed As An Se In Frankfurt And Headed By Philipp Von Hirschheydt.Sale Process Of Contitech Unit Original Equipment Solutions (Oesl) Starts In The First Quarter Of 2025.Short And Medium-Term Targets For Automotive As An Independent Company Will Be Announced At The Automotive Capital Markets Day In Summer 2025.Independent Company Will Operate Under A New Brand To Be Launched By The End Of April 2025.Spin-Off Plan Is Subject To The Approval Of Supervisory Board In March 2025 And Resolution By The Annual Shareholders’ Meeting On April 25, 2025.Further Company Coverage: Cong.De. (Gdansk Newsroom). ((Gdansk.Newsroom@Thomsonreuters.Com; +48 58 778 51 10;)).

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