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Bosch eyes listings of sub-divisions to aid acquisitions, CEO says
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Bosch eyes listings of sub-divisions to aid acquisitions, CEO says
Jun 12, 2024 3:29 AM

FRANKFURT, June 12 (Reuters) - German technology group

Robert Bosch is open to public listings of certain

divisions as it explores financing options for acquisitions,

although not as a group or in its core business as an auto

supplier, the company chief executive said.

Bosch already has a great deal of expertise on the capital

market as an issuer of bonds worth billions, CEO Stefan Hartung

said at an event of the ICFW association for business reporters

in Frankfurt on Tuesday evening.

But as a group with revenues of over 90 billion euros ($97

billion), the company needs all capital market skills, he added.

"We ourselves are not going to the capital market as Bosch,"

Hartung said, adding that the legal structure of the group also

ruled this out for its business as an auto parts supplier.

This echoed recent comments he made to Manager Magazin, whom

he told it was "necessary to have sub-companies listed on the

stock exchange" in appropriate areas.

Hartung mapped out Bosch's ambitions to grow in the United

States, an underrepresented market in the company's portfolio.

"It is a huge market, and Bosch has to deliver," the CEO

said.

Bosch is among the industrial firms competing to acquire

heating and ventilation assets worth over $6 billion from

Johnson Controls International ( JCI ) in the US, sources told

Reuters in March.

($1 = 0.9306 euros)

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