Continental AG Postpones Vitesco Technologies Spin-off Until Market Improves
30 Aprile 2020 - 12:29PM
Dow Jones News
By Jessica Sier
Continental AG said Thursday it would not present its Vitesco
Technologies spinoff at the annual shareholders meeting in July due
to difficult market conditions.
The German auto parts supplier said it will continue to pursue
the listing of its powertrain subsidiary business when market
conditions and visibility improve.
The next annual shareholders meeting is slated for July 14.
"The postponement will also allow certain costs and investment
requirements related to the spin-off to occur at a time closer to
the planned implementation," said the company in a statement.
Write to Jessica Sier at jessica.sier@wsj.com
(END) Dow Jones Newswires
April 30, 2020 06:14 ET (10:14 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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