SKF continues the preparations for the separation of its Automotive business; initiates consent solicitation
SKF AB S/ADR (SKFRY)
NASDAQ:AMEX Investor Relations:
skf.com/group/investors/investor-relations
Company Research
Source: PR Newswire
GOTHENBURG, Sweden, Feb. 7, 2025 /PRNewswire/ -- In September 2024, SKF announced the decision to initiate a separation of its Automotive business with the objective of a separate listing on Nasdaq Stockholm through a Lex Asea distribution to its shareholders.As the separation process continues, SKF now launches a consent solicitation to holders of its notes, in relation to the contemplated spin-off and to confirm that it will not cause an event of default under the conditions of the notes.SKF is seeking the consent as a matter of prudence and in order to avoid any potential uncertainty in the future. SKF does not consider that there has been an event of default under any series of the notes.As previously communicated, SKF considers that the contemplated spin-off of its automotive business would facilitate a clearer focus on distinct opportunities to enhance customer value, accelerate growth, improve competitiveness as well as providing long-term value benefiting customers, employees
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