Schaeffler Plans IPO to Cut Debt, Said to Raise $3.4 Billion

  • Schaeffler seeking to reduce debt accumulated in Conti bid
  • Holding company also plans $4.1 billion overhaul of borrowings

Schaeffler AG, the German family-owned industrial company specializing in ball bearings and automotive parts, plans an initial public offering that may be among the largest in Germany this year as it seeks to pay down debt.

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