SKF to spin off automotive business unit as separate listed company by 2026
By Bradley Osborne - 11th November 2024
Sweden – AB SKF, a bearing and seal manufacturing company based in Gothenburg, Sweden, has announced its intention to spin off its automotive business, aiming for a separate listing on Nasdaq Stockholm in the first half of 2026.
SKF intends to divide its Industrial and Automotive business segments, allowing them to operate as separate companies. If the proposal is approved, the shares in the automotive division will be split between SKF shareholders on a pro rata basis. SKF says the distribution of shares will meet the ‘Lex Asea’ requirements, meaning that, according to Swedish law, the receipt of the shares will be exempt from taxation.
