Thysssenkrupp is proceeding with the separation of its materials distribution division tk accelis, formerly known as thyssenkrupp Materials Services.
On Friday, its parent will decide on a floatation of a 49% stake of tk accelis on the stock market and has scheduled an extraordinary shareholders meeting, Kallanish notes.
Thysssenkrupp plans to remain the majority owner of the floated company with a stake of 51%, tk board member Volkmar Dinstuhl says.
Dinstuhl highlights the gain in flexibility tk accelis will have when acting as a separate listed company, yet retains stability and reliability provided by a long-term stakeholder.
He also points out that the international materials trading industry is highly fragmented, with numerous national and international players. In opportunities for further consolidation, mergers and acquisitions, tk accelis can use its own shares as a currency. “The management and supervisory boards of tk AG see a considerable potential here,” he says.
The unit has a broad international set-up, with 380 sites in 30 countries, and revenues of €11.4 billion ($13.2 billion) in the last fiscal year.
Author: Christian Koehl Germany
