Continental Spinoff May See 50% of Market Cap Returned, UBS Says [BNN Bloomberg (Canada)]
CONTL AG S/ADR (CTTAY)
NASDAQ:AMEX Investor Relations:
continental-corporation.com/en/investors/overview
Company Research
Source: BNN Bloomberg
The bank sees scope for the remaining tires and ContiTech businesses to return around €6 billion ($6.7 billion) to shareholders though dividends and buybacks over the period 2025 to 2027, about 50% of the firm's current market capitalization. “Conti RemainCo looks set to become increasingly attractive since it would be turning into a leading tyre maker with best-in-class financial returns, which have historically been impaired by Autos,” analysts led by David Lesne wrote in a note, upgrading Continental's stock to buy from neutral. Shares rose as much as 4.6% in Frankfurt to their highest intraday level since early June, recording their biggest jump since earnings were published on Aug. 7. The company announced on Aug. 5 that it was considering spinning off its car parts division, which produces brakes and automated driving systems and accounts for around half of the group's sales. A decision is expected by the end of the year and would see shareholders receiving stock in an
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News
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