HANOVER (dpa-AFX) - Continental AG (CTTAY.PK), a German automotive parts maker, announced on Monday that its Board has decided to evaluate a spin-off with subsequent public listing of its Automotive group sector on the Frankfurt stock exchange.
'The aim of a spin-off would be to fully exploit the value and growth potential of the two then separate groups,' the company said.
Post spin-off, the Automotive group sector will become a separate entity, and Continental shareholders will be direct shareholders of the new Automotive Group.
The Contract Manufacturing group sector will also be part of the transaction.
Post evaluation, the Board is expected to decide on the spin-off in the fourth quarter.
Continental aims to finalize the spin-off by the end of 2025.
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