Continental sells retail business in France

The restructuring of Continental continues, and on December 10, the company began exclusive negotiations with ASC Investments regarding the sale of its French retail business, ContiTrade France. It is expected that the 130 BestDrive sales points owned by Continental, two tire retreading plants, and the tire and vehicle service business will be sold, with the deal affecting around 1,200 employees. All tire centers will remain in the BestDrive France network, which is owned by Continental, and will operate under franchise agreements.

The parties have agreed not to disclose additional details, and the deal is subject to the approval of Continental's supervisory board.

Through the sale of BestDrive France assets, Continental aims to complete the transformation of its business model, shifting from a hybrid structure to a fully franchised network. Upon completion of the deal, Continental will serve private and corporate customers in France through a wide network of BestDrive service centers, which will be managed by franchisees. The company emphasizes that BestDrive, with its strong brand and years of experience in tire and vehicle technical services, will provide all necessary support to its franchisees, "helping them develop their business and realize their potential".

ASC is an investment company with offices in Luxembourg and Germany.