Schaeffler CEO: no capital increase necessary to fund planned Vitesco buyout

Schaeffler AG

09/10/2023 08:51

BERLIN, Oct 9 (Reuters) - Schaeffler will not need to
raise capital to fund its planned buyout of Vitesco  VTSCn.DE ,
Schaeffler Chief Executive Klaus Rosenfeld said on Monday,
adding that the deal would be favourable for Schaeffler's debt
ratio.
    The offer was not discussed with Vitesco in an advance due
to overlaps in the membership of the two companies' supervisory
boards, but Schaeffler was confident that it would lead to a
"friendly merger", Rosenfeld said.

 (Reporting by Christina Amann, Writing by Victoria Waldersee,
Editing by Friederike Heine)
 ((Victoria.Waldersee@thomsonreuters.com;))