GERMAN tyre and car parts maker Continental yesterday agreed to buy US private equity investor
Continental expects group sales to rise by more than five per cent this year to about €35bn as world auto markets recover, the company said last month.
The company aims for its adjusted operating margin to stay "comfortably" above 10 per cent, after 11.2 per cent in 2013.
The addition to
The deal, the closing of which is not expected before late September, may create synergies worth about €75m in the next four years, Wente said.
Fitch Ratings said yesterday that the purchase will have no immediate impact on Continental's ratings.
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