SKF (STO: SKF-B)’s board has proposed distributing and separately listing its automotive business, SKF Vertevo, and has called an extraordinary general meeting for Oct. 1 to consider the plan. The SKF Vertevo listing is targeted for Nasdaq Stockholm on Dec. 1, 2026, subject to shareholder approval and customary regulatory clearances.
According to SKF’s announcement, the automotive operation has already completed its operational separation and is functioning as a standalone business within the group.
SKF Vertevo Listing Depends on Shareholder Vote
The proposed transaction would give SKF shareholders shares in SKF Vertevo through a distribution, the company said. SKF described the separation as a way to allow the two businesses to pursue distinct strategies and capital-allocation priorities, reflecting differences in their markets and operating models.
Håkan Buskhe has been elected chair of SKF Vertevo’s board, SKF said. The proposed board also includes Therese Friberg, Hock Goh, Philip Ahlgren, Jumana Al-Sibai, Ebba Bonde, Maria Hemberg and Kerstin Enochsson. Friberg and Goh intend to leave SKF’s board.
SKF said the anticipated distribution is expected to meet the requirements of Sweden’s Lex Asea framework, which could mean it is not immediately taxable for Swedish-resident individuals and limited liability companies. The tax outcome, timing and completion of the SKF Vertevo listing remain contingent on the stated approvals and conditions.
