FRANKFURT (Dow Jones)–Thyssenkrupp has completed the sale of Acciai Speciali Terni (AST) including the associated sales organization in Germany, Italy and Turkey to the Italian company Arvedi. With the completion of the transaction, Thyssenkrupp has reached another milestone in the company’s transformation. The sale was contractually agreed in September 2021.
Both parties have agreed not to disclose the financial details of the transaction. It has been agreed with the buyer Arvedi that Thyssenkrupp will retain a 15 percent stake in AST in order to strengthen the existing operational cooperation with Arvedi through such a minority stake. The sale of AST improves Thyssenkrupp’s net financial position by more than EUR 600 million.
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(END) Dow Jones Newswires
January 31, 2022 12:50 PM ET (17:50 GMT)
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