Aktiebolaget SKF said shareholders approved the distribution and subsequent listing of its automotive business, SKF Vertevo AB, at an Extraordinary General Meeting on October 1, 2026.
The spin-off will make SKF Vertevo an independent company focused on the automotive bearing industry. The company is planned to list on Nasdaq Stockholm on December 1, 2026.
Under the distribution terms, shareholders will receive one SKF Vertevo share for every five SKF shares they hold. After the separation, SKF will report its Automotive segment as discontinued operations, reflecting its strategic focus on core industrial operations.
The approval marks a key milestone in the separation process SKF first announced in September 2024.