India, March 13 -- Continental's Supervisory Board has approved the proposed spin-off of Automotive and advised the 2025 Annual Shareholders' Meeting to approve this move as well. According to the Supervisory Board's decision, the new independent firm must have EUR 1.5 billion in cash funds before the time of the spin-off, subject to this approval, and the two future businesses must have a clear business-related distribution of possibilities and risks. A EUR 2.5 billion revolving credit facility will also be used to bolster the funding of Automotive's operational operations.

The Supervisory Board was also briefed by Continental's Executive Board on the next milestones for the spin-off. Short and mid-term goals for Automotive and Contine...