Bloomberg said the report came from an item in Financial Times Deutschland, which said Schaeffler is considering a switch to being “a corporation” because its current status as a “limited partnership” limits its ability to involve outside investors.
Schaeffler, said the report, is facing more than $13.2 billion in “unforeseen debt after assuming 82% of Continental’s stock, more than it had planned,” according to Financial Times Deutschland.
Bloomberg said that a Schaeffler spokesperson rejected the report and said the company has no plans to change its legal status or engage external investors. (Tire Review/Akron)