Continental AG Announces Spin-Off of Automotive Division
Continental AG, a German company specializing in automotive components, has seen its stock price increase in recent days. The company’s shares have gained value, with the current price being higher than its 52-week low.
Key Developments
- Continental AG plans to spin off its automotive division, which will be named Aumovio.
- The spin-off is expected to be listed on the Frankfurt stock exchange in September.
Rationale Behind the Spin-Off
The spin-off is intended to give the automotive division more autonomy and flexibility to make decisions. This move is expected to increase the competitiveness and profitability of Continental AG.
Timeline
- September: Aumovio is expected to be listed on the Frankfurt stock exchange.