Prospective Hüttenwerke Krupp-Mannesmann (HKM) buyer Capital Partners has broken off talks on the acquisition, Kallanish learns from HKM shareholder thyssenkrupp Steel.
Thyssenkrupp Steel holds 50% of HKM while Salzgitter owns 30%. The third owner, Vallourec with 20%, announced last year that it would sell its stake. The larger shareholders however have no interest in taking over Vallourcec’s stake in the Duisburg-based mill.
In fact, thyssenkrupp Steel has made it clear that it also wants to divest its stake. The company recently held talks with equity investor CE Capital Partners, whose name had not officially been disclosed till now.
“We deeply regret this development,” tk Steel says in a statement about the end of the talks. “It was and is our primary objective to sell the shares in HKM in order to give the company and its employees prospects for the future.”
The steelmaker emphasises that it remains open to discussions with other potential buyers. “We will now promptly evaluate the situation with our co-shareholders,” it says.
Christian Koehl Germany
