SKF Proposes Listing of Automotive Business and Convenes Extraordinary General Meeting
SKF's Board of Directors has decided to propose the distribution and listing of its Automotive business, SKF Vertevo. An Extraordinary General Meeting has been convened to approve the plan.
Gothenburg, Sweden – SKF's Board of Directors has announced its intention to separate and list its Automotive business unit, named SKF Vertevo. The board has decided to propose a distribution of shares and a subsequent listing of the unit on a stock exchange.
To move forward with the plan, SKF has convened an Extraordinary General Meeting (EGM) scheduled for October 1, 2026. Shareholder approval at this EGM is a prerequisite for the proposed separation and listing to proceed. Further regulatory and market approvals may also be required.
SKF Vertevo encompasses the company's offerings for the automotive industry, including bearings and related components and systems for vehicle manufacturers. The strategic rationale behind this move is to allow SKF Vertevo to focus more intently on its specific market segment and pursue growth as a standalone entity.
Following the potential separation, SKF would continue to operate its other business segments, such as industrial bearings and sealing solutions. The company has not provided specific timelines for the listing process itself but indicated that the EGM's decision will guide the next steps.