CONTINENTAL, the German diversified tyre company, will shortly announce its intention to raise up to $2bn in a combined capital increase, including the issue of new shares, equity-linked debt and a straight fixed income bond. The financing package, originally destined for the third quarter, has been delayed because of the market turmoil of the last three months. The proceeds have, however, already been earmarked to fund the group's recent $1.9bn acquisition of ITT's braking systems group.
November 13, 1998