Menu
sharewise sharewise
Log in
Sign up
Log in
Sign up
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

EQS-Adhoc: Continental AG: Continental evaluates spin-off of Automotive group sector and prepares implementation

eqs_en 
0 0 05.08.24
EQS-Adhoc: Continental AG: Continental evaluates spin-off of Automotive group sector and prepares implementation: http://s3-eu-west-1.amazonaws.com/sharewise-dev/attachment/file/23588/Continental_AG_logo.svg.png
 

EQS-Ad-hoc: Continental AG / Key word(s): Strategic Company Decision
Continental AG: Continental evaluates spin-off of Automotive group sector and prepares implementation

05-Aug-2024 / 13:29 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Hanover, August 5, 2024. After strategic review, Continental’s Executive Board has decided to evaluate in detail a spin-off with subsequent 100% public listing of the Automotive group sector on the Frankfurt stock exchange. The required steps for implementation will be prepared in parallel.

As a result of the spin-off, the Automotive group sector would no longer be part of the Continental Group. The Continental shareholders would be direct shareholders of the new Automotive Group. The Contract Manufacturing group sector would also be part of the transaction.

The aim of a spin-off would be to fully exploit the value and growth potential of the two then separate groups.

On the basis of the detailed evaluation, the Executive Board is expected to decide on the spin-off in the fourth quarter. Subject to the corresponding resolutions of the Executive Board and the Supervisory Board, the potential spin-off could be submitted for approval at the annual shareholder’s meeting of Continental AG on April 25, 2025. In case of approval, the aim is to finalize the spin-off by the end of 2025.



Contact:
Person making the notification: Max Westmeyer, Head of IR (interim)


End of Inside Information

05-Aug-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
Language: English
Company: Continental AG
Continental-Plaza 1
30175 Hannover
Germany
Phone: +49 (0)511 938-13650
Fax: +49 (0)511 938-1080
E-mail: [email protected]
Internet: www.Continental.com
ISIN: DE0005439004
WKN: 543900
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg, Hanover, Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Tradegate Exchange; Luxembourg Stock Exchange, SIX
EQS News ID: 1961139

 
End of Announcement EQS News Service

1961139  05-Aug-2024 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1961139&application_name=news&site_id=sharewise~~~202ee175-2c72-4a50-a0f7-89cd8fcfa533

Continental AG Stock

€53.40
-0.520%
Continental AG shows a slight decrease today, losing -€0.280 (-0.520%) compared to yesterday.
Our community is currently high on Continental AG with 3 Buy predictions and 0 Sell predictions.
As a result the target price of 63 € shows a slightly positive potential of 17.98% compared to the current price of 53.4 € for Continental AG.
Show more
Like: 0
Share
eqs_en 
EQS Group is a leading international provider of regulatory technology in the fields of corporate compliance and investor relations. In working with EQS Group, thousands of companies worldwide inspire trust by fulfilling complex national and international disclosure obligations, minimizing risks and communicating transparently with stakeholders.




Legal notice

Comments

Not a member yet? Sign up for free!