Schaeffler boosts stake in Continental
The Schaeffler Group has increased its share in Continental AG to nearly 48.3%. "We have reached our target of gaining a strategic shareholding of more than 30%," says Schaeffler Group CEO and President Juergen Geissinger.
"This means that talks can begin with Continental as soon as possible about cooperation projects to realize market opportunities for both companies."
Last month, Continental disclosed that it had "settled" its dispute with Schaeffler over the latter company's takeover offer.
Schaeffler agreed to limit its position to "minority shareholding" to a total of 49.99% until at least 2012.