Continental merger moves a step closer

The deal by Schaeffler to take merge with Continental AG moved a step closer in the last few days after a deal was reached with the banks to refinance its €12 billion debt.
Several tranches have been implemented as part of Schaefller’s credit lines being split in two with four and a half year and six year maritimes in place.

The Royal Bank of Scotland, UBS, Unicredit, SPA’s HVB Group unit; Commerzbank AG and Landesbank Baden-Wuerttemberg have all agreed deals with the group, Irish Trucker reported.

Source: Transportweekly