Continental Nears EUR 4 Bln Sale Of ContiTech To Lone Star Funds

HANOVER (dpa-AFX) - Responding to recent media reports, Continental AG (CTTAY.PK, CONG.DE, CON.DE) confirmed that it is in the final stages of concluding an agreement to sell its ContiTech group sector to Lone Star Funds.The Executive Board and Supervisory Board of Continental AG have already appro…

The Executive Board and Supervisory Board of Continental AG have already approved the purchase agreement. The deal is based on a company valuation of 4 billion euros, with the possibility of additional performance-based components amounting to up to 250 million euros in the subsequent years.