HANOVER, Germany—Continental A.G. has confirmed that it is selling its shares in Pakistan's General Tyre and Rubber Co.
The German tire maker said in a statement that Continental Global Holding Netherlands B.V. was selling its 9.78 percent stake in the Pakistani venture, but did not provide a reason for the move.
Based in Karachi, Pakistan, GTR produces 1.2 million tires a year which include passenger car, light vehicles, farm and two-wheeler tires.