Conti expects to complete sale of division soon

HANOVER, Germany (Aug. 23)—Continental A.G. expects to complete negotiations over the sale of its ContiTech rubber components unit to U.S. private equity firm Carlyle in September, a spokesman for Continental said. Carlyle will acquire ContiTech as a complete unit, including its vehicle anti-vibration systems and air springs operations, which Conti originally planned to retain. While Carlyle remains Conti's preferred buyer for the business, there are other bidders waiting in the wings if the negotiations falter, according to the German group's spokesman.