UPDATE 1-Schaeffler cuts debt in Continental share sale

Newswire

* Schaeffler sells 15 pct of Continental shares for 1.8 bln * Debt in Holding sinks to 4.6 billion * Schaeffler to convert into joint-stock company (AG) * Continental shares up 1.15 percent FRANKFURT, March 28 (Reuters) - Ball-bearing maker Schaeffler will slash its enormous debt pile by 2.8 billion euros ($3.9 billion) after selling 15 percent of German auto supplier Continental . Schaeffler, which said it fetched 60 euros apiece for the 30 million shares, took control of the much ...

Premium Content (PAID Subscription Required)

"UPDATE 1-Schaeffler cuts debt in Continental share sale" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:

  All of WardsAuto's reliable, in-depth industry reporting and analysis
  Hundreds of downloadable data tables including:
  •   Global sales and production data by country
  •   U.S. model-line inventory data
  •   Engine and equipment installation rates
  •   WardsAuto's North America Plant by Platform forecast
  •   Product Cycle chart
  •   Interrelationships among major OEMs
  •   Medium- and heavy-duty truck volumes
   •  Historical data and much more!


For WardsAuto.com pricing and subscription information please contact
Amber McLincha by email: amclincha@wardsauto.com or phone: (248) 799-2622
 

Current subscribers, please login or CLICK for support information.

Already registered? here.

Sponsored Introduction Continue on to (or wait seconds) ×