Schaeffler donating 1 million euros to combat COVID-19
Automotive supplier Schaeffler AG and the Schaeffler family are jointly donating one million euros to the Red Cross to help in the fight against COVID-19.
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Up to 25% share in Schaeffler to be sold through IPO
Continental AG majority shareholder and automotive industry supplier Schaeffler today announced its intention to place up to 166 million new and existing non-voting common Schaeffler AG shares with institutional investors and to list these on the Prime Standard segment of the Frankfurt Stock Exchange’s regulated market. The proceeds of this initial public offering will be used to reduce debt within both Schaeffler AG and Schaeffler Holding.
There’s money in them tyres – Schaeffler tops Germany’s rich list
He appeared together with his mother at the apex of financial publication Bilanz’s list of the 500 richest Germans last autumn, and now Georg Schaeffler has been named the richest person in Germany by Forbes magazine. According to Forbes, the 80 per cent owner in Continental majority shareholder the Schaeffler Group possesses assets worth US$26.9 billion, which secures him 21st place in the publication’s global rich list and first in Germany. His top spot in the national table sees him ahead of a trio of discount supermarket moguls – the owners of Aldi Süd (which operates Aldi in the UK), Lidl and Aldi Nord.
