Reports: Continental Looking For a Tyre Business Partner
The future of Continental AG as it stands hangs in the balance after the tyre and automotive supplier hired investment bank Perella Weinberg to seek out a potential buyer for the ‘rubber’ branch of the business. An unnamed source told Financial Times Deutschland that Continental’s move is: “less a question of selling it than of finding possible partnerships.” Media speculation has linked both Michelin and Bridgestone to a possible deal, but there have been no confirmed reports of offers or even negotiations.
Schaeffler’s most recent press statements emphasise the group’s merger with Conti as “mutually beneficial”. Continental has not officially responded to the reports..