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Holding Schaeffler KG
"It looks like the Schaeffler Group is really in big trouble right now. Reporting losses of up to 6 billion euros ($7.6 billion) in their balance sheet, the banks that financed the takeover of Continental in August 2008 are now forcing the Schaeffler family to allow them control their company, Autonews reported. Last July, Schaeffler, who owns INA, FAG, LuK., borrowed 16 billion euros for the controversial takeover of Continental and now they have to face the consequences of their decisi..." Continue Reading →
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