thyssenkrupp shares rise before the market: Apparently there are hardly any interested parties in thyssenkrupp’s steel business – CVC could access it

It was a tough process and the competitors in Europe waved it off, reported the “Handelsblatt” (Tuesday edition), citing several people familiar with the case. What remains are financial investors and smelter operators from emerging countries. The investment bank Goldman Sachs commissioned with the sale has found a possible buyer in the financial investor CVC. According to the newspaper, he wanted to offer one euro, make investment commitments and take on pension liabilities worth billions.

“Sales documents are currently being prepared,” the newspaper quoted a person familiar with the matter as saying. So far, however, interested parties have only had access to little information, and an audit has not yet taken place. There is also hope for an offer from the Brazilian steel group CSN, according to those involved in the transaction.

thyssenkrupp boss Martina Merz spoke out in favor of setting up the steel division again at the beginning of the month. She did not say how – for example through an IPO or with a partner – this should happen.

According to the newspaper report, the topic will be discussed at a special meeting of the supervisory board on March 31. Merz is likely to encounter some resistance to the spin-off, especially from the union representatives of IG Metall, which has traditionally held on to the steel business.

thyssenkrupp shares temporarily rose by 3 percent before the market.

Dusseldorf (Reuters)

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