HANOVER (dpa-AFX) - Continental (CTTAY.PK) announced the sale of its ContiTech business area Original Equipment Solutions or OESL to Regent. The parties have agreed not to disclose the purchase price and further details.
The transaction is subject to antitrust approval. The sale is part of the ContiTech group sector's strategy to focus even more on industrial customers.
OESL employs more than 16,000 people and generated sales of around 1.9 billion euros in fiscal 2024. The business area develops and produces hose lines and bearing elements for combustion-engine and electric vehicles.
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