The automotive supplier and tire manufacturer Continenal is considering splitting the group into a plastics and tire division and a division for the long-suffering automotive supply business. The idea is to split off the automotive supply business and list it separately on the stock exchange as part of a so-called spin-off, as the DAX group announced on Monday. The shareholders would then become owners of two separate groups.
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The profitable tire business and plastics technology would remain with the existing Conti Group. The aim of a spin-off would be to exploit the value and growth potential of the two separate groups, the company said. In view of the weakening automotive supply division, there has long been speculation about a separation of plastics and automotive supplies.
Board of directors to decide on spin-off at the end of this year
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The board of directors will probably make a decision in the fourth quarter after a detailed review. The general meeting must then approve the transaction. If approved, the transaction is scheduled to be completed by the end of 2025.
