Automotive industry - Conti examines spin-off of parts of the auto parts business
Continental is putting parts of its automotive supplier business to the test. Following the possible spin-off of the automotive business of the Contitech division, the company is now also looking into spinning off parts of the automotive division itself, Continental CEO Nikolai Setzer announced on Monday at the DAX-listed company's Capital Markets Day. In concrete terms, the initial focus would be on the car cockpit business with sales of 3.5 billion euros to date. Anything is possible, from the entry of an investor or a joint venture to a sale or IPO. However, he ruled out a complete sale of the automotive division.
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Source: www.stern.de
