}
| 4:06 AM EST

Schaeffler Might Go Public Next Year


#Continental #Schaeffler #europe

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Germany's Schaeffler AG is exploring the possibility of holding an initial public offering next year, Bloomberg News reports.

The news service cites unidentified sources who say the family-owned maker of precision bearings also is considering bringing in a large investor.

Analysts note that either option would generate capital the company could used to reduce the debt it took on to acquire Continental AG in 2008. Schaeffler, which now owns 49.9% of Conti, still had €6.8 billion in debt at the end of 2012. The company said earlier this week it plans to raise about €1 billion in a bond sale to help shrink that amount.

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