By Max Bernhard

Continental AG (CON.XE) said Tuesday that it now plans to spin off the entirety of its powertrain division and subsequently list it.

The German automotive parts supplier had previously also considered only a partial spin off of the business, which will be named Vitesco Technologies after the separation.

"Subject to the approval by the supervisory board of Continental AG, the planned spinoff shall be submitted to the annual general meeting on April 30, 2020, for its approval," the company said.

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

October 22, 2019 07:47 ET (11:47 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Continental (TG:CON)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Continental Charts.
Continental (TG:CON)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Continental Charts.