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| Name | Symbol | Market | Type |
|---|---|---|---|
| Continental AG (PK) | USOTC:CTTAY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.07 | 1.07% | 6.62 | 6.55 | 6.69 | 6.656 | 6.58 | 6.6275 | 43,893 | 21:18:14 |
From May 2019 to May 2024
By Cristina Roca
Continental AG (CON.XE) said Monday that it is considering spinning off its powertrain division, and that it will continue to prepare for a potential partial initial public offering of the unit.
The German automotive company said it is conducting a review of the technical and legal requirements, and that it will consider the possibility of completely spinning off the division, which would be called Vitesco Technologies.
Continental's executive and supervisory board will reach a decision after the review is completed, the company said.
In the meantime, Continental will continue to prepare to partially list the division in 2020, it said.
"This creates further maneuvering room for Continental, given an accelerating trend toward powertrain electrification and the hard-to-predict conditions surrounding a potential partial IPO in 2020," Continental said.
Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca
(END) Dow Jones Newswires
September 02, 2019 09:20 ET (13:20 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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