Schaeffler Sells 5.5% of its Conti Shares to Sal. Oppenheim

Schaeffler Group has reportedly transferred 5.5 per cent of the shares it holds in Continental AG to Sal. Oppenheim Jr.

& Cie. Stock tendered by Continental investors gave Schaeffler direct and indirect control of 90 per cent of the company, almost doubling an agreed limit of 49.99 per cent.

Schaeffler Group spokesperson, Detlef Sieverdingbeck, told Tyres & Accessories that the transfer of shares to Sal. Oppenheim was the first such move and that more will follow..