Schaeffler Verwaltungs GmbH, a subsidiary of INA-Holding Schaeffler GmbH & Co. KG, announces that 94.4 million non-voting shares of Schaeffler AG were sold. The placement price with institutional investors was set at EUR 13.10 per non-voting share. Schaeffler Holding will receive proceeds of about EUR 1.24 billion from the sale.
The sale includes all of the non-voting shares in Schaeffler AG held by Schaeffler Verwaltungs GmbH. These non-voting shares correspond to 14.2% of Schaeffler AG’s issued capital. As a result of the placement, all of the non-voting shares (corresponding to 24.9% of the share capital) will be publicly held. Schaeffler Holding will continue to indirectly hold all of the voting shares in Schaeffler AG (corresponding to 75.1% of the share capital). In addition, Schaeffler Holding is Continental AG’s main shareholder, holding 46.0% of its shares.
Schaeffler Holding intends to use the proceeds from the sale for a further reduction of its liabilities.


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