Schaeffler acquires 9% of Vitesco Technologies, increasing its stake to approximately 38.87%

On January 25, 2024, Schaeffler announced that it had reached an agreement with investment bank BofA Securities Europe to successfully acquire 3.6 million shares of Vitesco Technologies, accounting for 9% of the total shares of Vitesco Technologies. This transaction increased Schaeffler's shareholding in Vitesco Technologies to approximately 38.87%. Schaeffler family holding company IHO Holding still holds nearly 50% of Vitesco Technologies' shares, and the two parties together hold approximately 88.81% of the equity and voting rights. The merger of the two companies is expected to be completed by the end of 2024.