Bankers Prepare €2.5 Billion Debt for ContiTech Unit Sale

Bankers are working on debt packages of around €2.5 billion ($2.9 billion) to back a potential acquisition of Continental AG’s industrial ContiTech unit, as a highly-anticipated sales process kicks off.

Information memorandums on the sale, run by Deutsche Bank AG and Perella Weinberg Partners, went out last week, according to people familiar with the deal, who asked not to be identified because the matter is private. Potential buyers are expected to submit first round bids in an auction next month, the people added.