Continental ‘plans partial listing of automated driving business’
German newspaper reports automotive parts supplier wants to make division more independent
08 February 2022 - 17:57
byVictoria Waldersee
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Berlin — German automotive supplier Continental wants to make its automated driving business more independent and is considering a partial initial public offering (IPO), Handelsblatt reported on Tuesday, citing anonymous sources.
The Autonomous Mobility division of the company’s automotive segment is to become its own legal entity from January 1 2023, but an IPO could also be on the cards in the future, sources told the German newspaper.
Continental, which split off its power-train division Vitesco in 2021, did not confirm the report, saying that co-operation between business fields under one roof is the company’s top priority at present.
“No further steps are planned at this time,” a spokesperson said.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Continental ‘plans partial listing of automated driving business’
German newspaper reports automotive parts supplier wants to make division more independent
Berlin — German automotive supplier Continental wants to make its automated driving business more independent and is considering a partial initial public offering (IPO), Handelsblatt reported on Tuesday, citing anonymous sources.
The Autonomous Mobility division of the company’s automotive segment is to become its own legal entity from January 1 2023, but an IPO could also be on the cards in the future, sources told the German newspaper.
Continental, which split off its power-train division Vitesco in 2021, did not confirm the report, saying that co-operation between business fields under one roof is the company’s top priority at present.
“No further steps are planned at this time,” a spokesperson said.
Reuters
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