Date:22/08/2008 URL: http://www.thehindu.com/2008/08/22/stories/2008082260881800.htm

Business - Briefly

Continental, Schaeffler agree minority deal

FRANKFURT: German car parts group Continental on Thursday agreed that unwanted suitor Schaeffler can buy up to half the company in return for a sweetened offer and other concessions, ending weeks of wrangling. In a deal announced by the two companies, family-owned Schaeffler will take a minority shareholding of up to 49.99 per cent for a four-year period.