Continental considers partial IPO of automated driving business – Handelsblatt

Logo of German tyre company Continental is pictured before the annual news conference in Hanover, Germany, March 9, 2021. REUTERS/Fabian Bimmer/File Photo

BERLIN, Feb 8 (Reuters) – German autos supplier Continental (CONG.DE) wants to make its automated driving business more independent and is considering a partial IPO, Handelsblatt reported on Tuesday, citing anonymous sources.

The Autonomous Mobility division of the company’s automotive segment is to become its own legal entity from Jan. 1, 2023, but an IPO could also be on the cards in future, sources told the German newspaper.

Continental, which split off its powertrain division Vitesco (VTSCn.DE) last year, did not confirm the report, stating that cooperation between business fields under one roof was the company’s top priority at present.

“No further steps are planned at this time,” a spokesperson said.

Reporting by Victoria Waldersee, Jan Schwartz; Editing by Maria Sheahan

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