Key Developments: Continental AG (CONG.DE)

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Latest Key Developments (Source: Significant Developments)

Continental AG to acquire Veyance Technologies Inc. from The Carlyle Group
Monday, 10 Feb 2014 10:17am EST 

Continental AG:Says its has signed an agreement to acquire Veyance Technologies Inc., for $1.9 billion from the Carlyle Group.Says upon closing of this transaction, the acquired business is planned to be integrated into Continental' s ContiTech Division.Says transaction is subject to merger control clearance.  Full Article

Continental AG issues 2014 sales guidance in line with analysts' estimates
Monday, 13 Jan 2014 02:33am EST 

Continental AG:Announces that for 2014 the company is aiming to increase sales by around 5 percent to approximately 35 billion euros, fiscal 2014 sales of 35.623 billion euros - Thomson Reuters I/B/E/S.Says it also aims to achieve a double-digit adjusted EBIT margin.  Full Article

Continental AG Lowers FY 2013 Revenue Guidance - Conference Call
Thursday, 7 Nov 2013 09:00am EST 

Continental AG announced that for fiscal 2013, it has changed sales guidance to around EUR33.5 billion compared to around EUR34 billion. According to I/B/E/S Estimates, analysts on average are expecting the Company to report revenue of EUR 33.7 billion for fiscal 2013.  Full Article

Continental AG Opens New EUR 40 Million Plant in Romania-SeeNews - The Corporate Wire
Monday, 30 Sep 2013 05:00pm EDT 

SeeNews - The Corporate Wire reported that Continental AG has inaugurated a EUR 40 million (USD 54.3 million) fuel pump production unit in the Industrial Park Ghimbav, Romania. The new factory near Brasov, combines the production of electrical fuel pumps, molding and the assembly of the fuel supply unit, the company said in a statement, quoting Mr. Markus Distelhoff, Director of the unit. Located in the central part of Romania, the plant will employ 500 people by the end of 2013. As of end-2012, Continental AG had invested more than EUR 700 million in its activities in Romania. It has three research and development centers in Timisoara, Sibiu and Iasi and the three plants located in Timisoara, Sibiu and Brasov.  Full Article

Commerzbank AG Decreases Stake in Continental AG
Monday, 23 Sep 2013 05:52am EDT 

Continental AG announced that Commerzbank AG has decreased its stake in the Company and its ownership has crossed the 50% threshold. As a result of the transaction Commerzbank holds 46.17% of shares in Continental AG.  Full Article

Schaeffler To Sell 4% Of Continental AG-Reuters
Monday, 16 Sep 2013 06:31pm EDT 

Reuters reported that Schaeffler Group said it will sell 4% of Continental AG to cut debt. Schaeffler is placing eight million shares with investors to pay creditors, including Goldman Sachs, which is also running the transaction, it said. The shares are worth about EUR1 billion ($1.3 billion) after the stock price of Continental AG climbed to EUR126.95 on August 16, 2013 its highest in more than 22 years, according to Thomson Reuters data.  Full Article

BRIEF-Continental AG announces early redemption of $950 mln bond

* Says will redeem USD bond of $950 million that has been issued in September 2012 with a coupon of 4.50%

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