thyssenkrupp might part from steel

thyssenkrupp group is no longer categorically excluding a total sale of its steelmaking activities, weekend reports claim.

So far, the ceo of the troubled German conglomerate, Martina Merz, had said she was seeking partnerships, but not a spin-off. This has changed, and she is now pondering an overall sale, too, Der Spiegel writes, citing insiders. The goup’s headquarters would not comment on the reports when contacted by Kallanish. It refers to the strategy paper issued in May, which stated that “we remain open for all options.“

In the months that followed, both Sweden’s SSAB as well as China’s Baowu were rumoured as interested parties. According to the recent reports, SSAB would be the favourite buyer of investor group Cevian, thyssenkrupp’s second largest stakeholder. Allegedly, the group’s main stakeholder, the Krupp Foundation, is coming closer to Cevian’s positions, Spiegel claims.

Union leader Jürgen Kerner of IG Metall, who sits on thyssenkrupp’s supervisory board, in other reports was quoted as speaking against a full-on sale. He brought up the possibility of a merger with Salzgitter AG. However, Salzgitter’s ceo Heinz Jürgen Fuhrmann, in the past has not been forthcoming to that idea, and kept emphasising Salzgitter’s independence.