With the involvement of Germany's former federal chancellor Dr. Gerhard Schröder, Continental AG concluded the investment agreement with the Schaeffler Group and its associated persons on August 20, 2008. It governs the cooperative relationship between the two companies in view of Schaeffler's position as Continental's major single shareholder. Schaeffler currently holds 49.9 percent of Continental shares.
"Notice of termination of the investment agreement is understandable from the vantage point of Schaeffler, our anchor shareholder. We are confident that the two companies will continue their very good and goal-oriented cooperation on into the future," said Dr. Elmar Degenhart, CEO of Continental AG.