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ThyssenKrupp announces capital increase after U.S. deal

Reuters

FRANKFURT (Reuters) - ThyssenKrupp (GER:TKA) announced plans to increase its capital by as much as 10 percent after striking a deal to sell its U.S. steel plant to ArcelorMittal (AEX:MT) and Nippon Steel & Sumitomo Metal for $1.55 billion.

It also announced late on Friday plans to take back steel plant Terni and the VDM high-performance alloy unit from Outokumpu (HEX:OUT1V) and sell its 29.9 percent stake in the Finnish company.

ThyssenKrupp also said it saw its adjusted earnings before interest and tax (EBIT) jumping to about 1 billion euros ($1.36 billion) this year, from 599 million euros in its full fiscal year that ended on September 30.

(Reporting by Maria Sheahan; Editing by Jonathan Gould)