WEINHEIM, Germany -- German technology group Freudenberg will decide in the fall on an initial public offering in 2019 of its automotive vibration control technology business Vibracoustic, CEO Mohsen Sohi said.
"We will consider in the autumn whether to launch a stock market flotation [of Vibracoustic] in 2019," Sohi told journalists on Tuesday.
The CEO said Freudenberg had up to 3 billion euros ($3.71 billion) on hand to finance acquisitions, even without an initial public offering of Vibracoustic.
Earlier this month, Sohi had said the company would make a decision on a Vibracoustic IPO by the end of the year.
Privately-held Freudenberg in 2016 bought the 50 percent in Vibracoustic it did not yet own from joint-venture partner Trelleborg in a deal valuing the unit at 1.8 billion euros, including debt.