HERZOGENAURACH (Dow Jones) – The previously silent Family firm Schaeffler has a step towards capital market and thus to Merger with Continental AG made. The Herzogenaurach Bearing manufacturer, operates as the previously limited partnership (KG), would be to 1. February in a GmbH & Co. KG convert, as the Swiss franc on Monday declared. The company would then Schaeffler Technologies GmbH & Co. KG heißen.
The highly indebted by Conti takeover Rolling Group had in August last year with a debt restructuring with the Banks gives some air. The family business had been here also required to choose a new legal form, providing access to all standard forms of equity and debt financing allows. This is also an important prerequisite for a possible Merge with Continental AG, said at the time.
Schaeffler had verhoben in the attempt, three times as to incorporate the great Conti. The Franks, look for the Conti directly and indirectly in capital or 75.1% of the world largest automotive supplier. The Hanoverians even sit through the purchase Siemens VDO on a debt of nearly $ 10 billion and are to the currency crash of the stock only a fraction of its worth what Schaeffler has paid.
Website: www.schaeffler-gruppe.de -By Katharina Becker, Dow Jones Newswires +49 (0) 69 29725 112, katharina.becker @ dowjones.com DJG / cat / has Visit our website http://www.dowjones.de
(END) Dow Jones Newswires
January 18, 2010 05:09 ET (10:09 GMT)
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