Release time : 2015-06-13 08:29:47
* Share in Continental AG reaches 48.32% after the end of the acceptance period
* Talks about cooperation projects are to start as soon as possible
* Schaeffler Group will support Continental management?s plans for the integration of VDO
* Schaeffler sees considerable value potential for Continental AG
At the end of the deadline for accepting the offer, the Schaeffler Group, Herzogenaurach, has extended its share in Continental AG to around 48.32%. ?This result is a great success for us. We have reached our target of gaining a strategic shareholding of more than 30 percent in Continental AG. This means that talks can begin with Continental as soon as possible about cooperation projects to realize market opportunities for both companies by consolidating expertise in development and innovation. Together Schaeffler and Continental can now develop solutions for the technological challenges of the cars of the future?said Dr. Juergen M. Geissinger, President and CEO of the Schaeffler Group.
The development of the market position in key future areas of the automotive industry means a considerable potential for value for Continental AG. At the same time, the Schaeffler Group will support Continentals management with the rapid integration of VDO, which is in both companies? interests.