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Continental To Consider Spin-off Of Powertrain - Quick Facts

Continental AG (CTTAY.PK) said it will consider a spin-off of the Powertrain division with subsequent listing as an additional alternative to the potential partial IPO. The Executive Board will investigate the legal and technical feasibility of the spin-off. The final decision regarding the spin-off will be taken by the Executive Board and the Supervisory Board after the conclusion of the investigation.

"This approach ensures that our powertrain business will be able to embark on its promising course under the best possible conditions in 2020 - regardless of whether it does so via a partial IPO or a spin-off. This provides all stakeholders with clear guidance on future planning," said Continental CEO Elmar Degenhart.

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