views

SCHAEFFLER BAGS CONTINENTAL

GERMAN carparts maker Schaeffler said yesterday it had arranged a £10.22bn refinancing deal that will see its owners – including Maria Elisabeth Schaeffler (pictured) – take control of rival Continental. The move by Schaeffler was led by chief executive Juergen Geissinger (also pictured). The merged group would have about £28bn of annual sales and around 200,000 employees.