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Schaeffler Group is working to sell their shareholding in Continental AG held, in order to reduce the level of debt, the total transaction value of nearly $ 2.2 billion. September 24, in the statement, Schaeffler Group will dispose of 2,080 million shares Warburg family the bank (MMWarburg) and the Frankfurt Cile bank (Bankhaus Metzler in Frankfurt) partners Continental's stock, the share of stocks than for 10.4%. This part of the equity value of 1.69 billion euros (about 2.18 billion U.S. dollars). After the reduction, Schaeffler held by the proportion of mainland shares will be reduced to 49.9%. Schaeffler CFO Klaus Rosenfeld (Klaus Rosenfeld) said: "from net income perspective, the transaction amount will be about 1.6 billion euros, but we need to wait until tomorrow to know the final result." Two informed sources, Continental's stock trading price will likely be between 77.50 and 79.30 euros, less than the Sept. 24 ending price of 81.49 euros, Schaeffler debt amounted to 5 billion euros, after the ending of the transaction, it will be reduced to a level of 3.5 billion euros. Schaeffler Group is working to sell their shareholding in Continental AG held, in order to reduce the level of debt, the total transaction value of nearly $ 2.2 billion. September 24, in the statement, Schaeffler Group will dispose of 2,080 million shares Warburg family the bank (MMWarburg) and the Frankfurt Cile bank (Bankhaus Metzler in Frankfurt) partners Continental's stock, the share of stocks than for 10.4%. This part of the equity value of 1.69 billion euros (about 2.18 billion U.S. dollars). After the reduction, Schaeffler held by the proportion of mainland shares will be reduced to 49.9%. Schaeffler CFO Klaus Rosenfeld (Klaus Rosenfeld) said: "from net income perspective, the transaction amount will be about 1.6 billion euros, but we need to wait until tomorrow to know the final result." Two informed sources, Continental's stock trading price will likely be between 77.50 and 79.30 euros, less than the Sept. 24 ending price of 81.49 euros, Schaeffler debt amounted to 5 billion euros, after the ending of the transaction, it will be reduced to a level of 3.5 billion euros. FAG HCS71916C.T.P4S.UL| FAG HCS71913E.T.P4S.UL | FAG HCS71914C.T.P4S.UL | FAG HCS71912E.T.P4S.UL | FAG HCS71911E.T.P4S.UL | FAG HCS7010C.T.P4S.UL | FAG HCS71906E.T.P4S.UL | FAG HCS7008C.T.P4S.UL | FAG HCS71906C.T.P4S.UL | FAG HCS71905E.T.P4S.UL |
