RLPC-UPDATE 1-Schaeffler hires JP Morgan for strategic review

Newswire

By Tessa Walsh (Adds detail, quotes, background, comment) LONDON, Nov 27 (Reuters) - German ball bearings manufacturer Schaeffler has hired JP Morgan to advise on a strategic review after the company gained an unexpected majority in target Continental AG , bankers close to the deal said on Thursday. The strategic review will precede any changes to Schaeffler's 16.1 billion euro syndicated loan, which are not expected before 2009. "Nothing on the loan is moving until 2009," a senior ...

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