The Executive Board of Continental AG has decided to no longer pursue the preparation of a potential partial IPO of Vitesco Technologies (currently the Powertrain division). Instead the Company will exclusively pursue the spin-off of 100% of Vitesco Technologies with subsequent listing.
Subject to the approval by the Supervisory Board of Continental AG, the planned spin-off shall be submitted to the Annual General Meeting on April 30, 2020, for its approval.
Contact:Person making the notification: Bernard Wang, Head of IR
Continental AG / Key word(s): Letter of Intent
Continental AG: Continental AG Executive Board decides to exclusively pursue the spin-off of 100% of Vitesco Technologies (currently the Powertrain division) with listing
22-Oct-2019 / 13:17 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.