Continental AG to transfer 300 mln eur for pensions

Newswire

FRANKFURT, June 30 (Reuters) - German tyremaker Continental AG plans to transfer 300 million euros ($381.3 million) in assets to a trustee to partly fund pension obligations for employees and retirees in Germany, it said on Friday. "This step allows us not only to improve the comparability of our financial reporting but also to achieve further value for the corporation," said Continental finance chief Alan Hippe in a statement. "We are thus reducing future refinancing risks and further ...

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