Schaeffler Group, a German spare parts supplier, announced that it plans to sell 4 percent of its holdings in the Continental Group to reduce debt. Continental Group's closing price in Germany rose to 126.95 euros in Germany on the 16th of this month, hitting a 22-year high. Schaeffler announced on the same day that it will allocate 8 million shares of Continental Group to investors. According to the closing price of the day, the total value of these shares will reach approximately 1 billion euros (about 1.3 billion U.S. dollars). Schaeffler currently holds slightly less than 50% of the Continental Group's shareholding. In 2008, the two parties signed a mutual investment agreement, and Schaeffler agreed to control its holdings in the mainland at 49.99%. Schaeffler announced in May this year that it would abandon the plan to merge with Continental Group over the years, and the mutually-signed mutual investment agreement signed by both parties will be set aside. In addition to the proceeds from the sale of shares in the Continental Group , Schaeffler plans to allocate 325 million euros from its free cash flow to repay debt. As of the end of June this year, Schaeffler’s net debt reached 6.5 billion euros. Perilla Seed Benefits For Skin,Perilla Seed Medicine,Perilla Seeds For Birds Food,White Perilla Seed For Birds Jilin Chunyi Industrial Co., Ltd , https://www.xuanyitruckpart.com