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Schaeffler Holding generates proceeds of about EUR 1.24 billion from sale of non-voting shares in Schaeffler AG

Sale of 94.4 million non-voting shares in Schaeffler AG Placement price per non-voting share of EUR 13.10 Proceeds of about EUR 1.24 billion will be used to reduce liabilities of Schaeffler Holding Schaeffler Verwaltungs GmbH, a subsidiary of INA-Holding Schaeffler GmbH & Co. KG, announces that 94.4 million non-voting shares of Schaeffler AG were sold. … Continued

  • Sale of 94.4 million non-voting shares in Schaeffler AG
  • Placement price per non-voting share of EUR 13.10
  • Proceeds of about EUR 1.24 billion will be used to reduce liabilities of Schaeffler Holding

Schaeffler Verwaltungs GmbH, a subsidiary of INA-Holding Schaeffler GmbH & Co. KG, announces that 94.4 million non-voting shares of Schaeffler AG were sold. The placement price with institutional investors was set at EUR 13.10 per non-voting share. Schaeffler Holding will receive proceeds of about EUR 1.24 billion from the sale.

The sale includes all of the non-voting shares in Schaeffler AG held by Schaeffler Verwaltungs GmbH. These non-voting shares correspond to 14.2% of Schaeffler AG’s issued capital. As a result of the placement, all of the non-voting shares (corresponding to 24.9% of the share capital) will be publicly held. Schaeffler Holding will continue to indirectly hold all of the voting shares in Schaeffler AG (corresponding to 75.1% of the share capital). In addition, Schaeffler Holding is Continental AG’s main shareholder, holding 46.0% of its shares.

Schaeffler Holding intends to use the proceeds from the sale for a further reduction of its liabilities.

https://www.automotiveworld.com/news-releases/schaeffler-holding-generates-proceeds-eur-1-24-billion-sale-non-voting-shares-schaeffler-ag/

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