DGAP-Adhoc: Continental AG: Continental AG Executive Board decides to exclusively pursue the spin-off of 100% of Vitesco Technologies (currently the Powertrain division) with listing

2019. október 22., kedd, 13:17





DGAP-Ad-hoc: 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.



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







22-Oct-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: Continental AG

Vahrenwalder Straße 9

30165 Hannover

Germany
Phone: +49 (0)511 938-1068
Fax: +49 (0)511 938-1080
E-mail: ir@conti.de
Internet: www.continental-corporation.com/de
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: 894143





 
End of Announcement DGAP News Service



894143  22-Oct-2019 CET/CEST







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