Conti to Restructure by Year-End?

Continental AG intends to restructure and sell a minority stake in at least one of the three businesses it creates, according to Manager Magazin.

The German business monthly cites no sources but opines Conti intends to split itself into three businesses: tires and rubber, powertrain products and chassis-safety-interiors. Manager predicts the company’s tire business will be the first to offer stock.

Conti confirmed last week that it is contemplating a “wide open” range of options, including a major overhaul that creates a holding company and spins off some operations. Sources tell Reuters that Conti hired J.P. Morgan to help assess its options.​​​​