Banks push Schaeffler to surrender control-sources

Newswire

* Banks push to grab control of Schaeffler - sources * Commerzbank, with 5 bln eur, has top exposure - sources * Family in last-ditch stand to cling to influence FRANKFURT, Feb 27 (Reuters) - The Schaeffler family, which swooped on tyre and car parts maker Continental , is now being pressured to surrender control of their company to the banks that financed the ill-fated deal, said sources with knowledge of the matter. "The banks want to be in charge," said one source close to the ...

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