Oct 19, 2023
19 October, 2023. Ninety One, through portfolios that it manages, is one of Vitseco Technologies largest independent shareholders. We have held our shares since Vitesco's spin-off from Continental in 2021 and added to our position over time.
We are addressing this open letter to the Independent Transaction Committee of the Supervisory Board of Vitesco, which is tasked with evaluating Schaeffler AG's proposal to gain control of the company. We believe that the acquisition process, constituting of a tender offer followed by a share merger for the remaining Vitesco shareholders, risks disadvantaging minority shareholders.