Date: 2013-08-01

Debt Intensifies Conti-Schaeffler Battle

The power struggle between Schaeffler and Continental, the car parts group in which it holds a big stake, escalated Thursday after it emerged the privately held bearings maker was considering loading Conti with significant additional debt.

People close to the situation said Schaeffler was considering bringing its automobile business into Conti, together with a multi-billion debt load of the unit.

Schaeffler would be able to do this after its tender offer closes in January. Schaeffler will then control more than 90 per cent of Conti

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