2023-10-09 08:25:10
As part of the Vitesco takeover, Schaeffler AG also wants to simplify its shareholder structure. The listed preference shares are to be converted into ordinary shares, and the remaining shareholders will thus be equated with the family that currently holds all ordinary shares. “For my mother and me as family shareholders, giving up voting rights is a drastic step that we have carefully considered in the interests of the company,” said Supervisory Board Chairman Georg Schaeffler. “In view of the significant advantages that the entire transaction brings with it for all stakeholders, we are convinced that now is the right time to take the next big step (…).” The family is also the largest with 46 percent Shareholder of Continental. Vitesco’s second largest shareholder is the Austrian entrepreneur Siegfried Wolf with five percent.
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