logo
Plus   Neg
Share
Email

Continental AG To Pursue Spin-off Of Vitesco Technologies - Quick Facts

Continental AG (CTTAY.PK) said it will pursue a spin-off of 100% of Vitesco Technologies (currently the Powertrain division) with subsequent listing. The planned spin-off shall be submitted to the AGM on April 30, 2020, for approval.

The company said its Executive Board has decided to no longer pursue the preparation of a potential partial IPO of Vitesco.

On September 2, Continental AG said it will consider a spin-off of the Powertrain division with subsequent listing as an additional alternative to the potential partial IPO.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
New York Attorney General Letitia James has fled a lawsuit against Vyera Pharmaceuticals and two of its former CEOs, including imprisoned 'Pharma Bro' Martin Shkreli, for illegally monopolizing a life-saving drug Daraprim. The lawsuit seeks a lifetime ban on Shkreli and his business partner Kevin Mulleady working in the pharmaceutical industry. Graco Inc. (GGG) shares were climbing more than 7 percent in morning trade. Monday after market close, the company had reported a surge in the fourth-quarter earnings to $84.8 million from $73.7 million in the prior year. Earnings per share surpassed analysts' estimates. Sales were up 1 percent to $412.3... Strategy of getting multiple indication approvals for the same drug seems to be paying off for AstraZeneca PLC (AZN), in terms of higher likelihood of approval and improved sales. Besides, the company is realizing value from non-core, mature brands to invest in new drugs, which also seems to be working in its favor.
Follow RTT
>