July 18, 2018 / 1:49 PM / a year ago

Continental CFO says Powertrain IPO paves way for consolidation moves

FRANKFURT (Reuters) - Continental (CONG.DE) said a listing of its powertrain division will allow it to strike alliances or participate in merger deals in the sector, Chief Financial Officer Wolfgang Schaefer said on Wednesday.

“We do not rule out that Powertrain strikes cooperation deals or supports consolidation,” Schaefer told journalists on a call to discuss the company’s reorganization.

Currently, there are no plans to strike a deal with or create alliances for the Powertrain division, he added.

Continental said its powertrain division will include its electric and combustion engine assets.

Reporting by Edward Taylor; Editing by Arno Schuetze

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