Czech billionaire eyeing stake in Thyssenkrupp steel division - source
Reuters
Published Jun 23, 2023 12:02
Updated Jun 23, 2023 12:16
(Reuters) - Czech billionaire Daniel Kretinsky is interested in acquiring a stake in Thyssenkrupp (ETR:TKAG)'s steel business, which is currently looking for a buyer or co-owner, a person familiar with the matter told Reuters on Friday.
The entrepreneur's holding company Energeticky a Prumyslovy Holding (EPH), one of Europe's largest energy groups, could also act as an energy supplier for Thyssenkrupp Steel, the person said.
German news outlet Spiegel first reported the news.
Thyssenkrupp resumed efforts to divest its steel division earlier this year, after the plan was shelved following failed efforts to list, sell or find a merger partner.
Other parties including Emirates Steel Arkan, Brazil's CSN and financial investor CVC have previously expressed interest in the unit, according to people familiar with the matter.
German economy minister Robert Habeck said earlier this month that he would do whatever it takes to preserve the country's steel industry by decarbonising production processes, after weeks of doubts surrounding the sector led to steel worker protests.
Thyssenkrupp and EPH declined to comment.
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Written By: Reuters
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