Apollo Global Management and Bain Capital are among a group of buyout firms progressing in the auction for Continental AG’s industrial division ContiTech, according to a report by Bloomberg citing people familiar with the matter.
The business, which manufactures industrial components including conveyor belts and air springs, could reportedly be valued at between approximately €3.5bn and just over €4bn. Financing packages of around €2.5bn are being explored to support a potential transaction.
The...
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