Straits Times Index
3,305.39 -16.69 (-0.50%) S&P 500
5,360.79 +13.80 (+0.26%) Dow
38,868.04 +69.05 (+0.18%) Nasdaq
17,192.53 +59.40 (+0.35%) Bitcoin USD
67,504.06 -1,885.98 (-2.72%) CMC Crypto 200
1,398.64 -43.00 (-2.98%)
thyssenkrupp AG (TKA.HM)
- Reuters
Fincantieri recently pitched idea of TKMS tie-up to Berlin, Handelsblatt says
Fincantieri Chief Executive Pierroberto Folgiero recently pitched the idea of a tie-up with Thyssenkrupp's defense division, which is currently up for sale, to members of Germany's government, Handelsblatt reported. Fincantieri has for years been considered a potential partner in efforts by Thyssenkrupp to sell its Marine Systems (TKMS) division, which makes frigates and submarines, with Folgiero last year touting the benefits of a combination. Thyssenkrupp has been trying to find a buyer for the division and is currently in talks with private equity firm Carlyle and German state lender KfW about selling stakes in TKMS.
- Reuters
Thyssenkrupp can't afford delays over future of steel unit, chairman says
Thyssenkrupp's chairman on Saturday defended a move to sell a stake in the group's steel unit to Czech billionaire Daniel Kretinsky against the will of worker representatives, adding the company could not afford to delay critical decisions. Powerful labour leaders at the German conglomerate, who hold half the seats on its supervisory board, are in open conflict with management, arguing they are being sidelined in Thyssenkrupp's efforts to sell its steel business TKSE. A plan to sell 20% in the business to Kretinsky could only be approved by the board because the vote of chairman Siegfried Russwurm counts twice in the event of a stalemate.
- Reuters
Thyssenkrupp to pare back funding for steel unit in 50:50 JV with Kretinsky
FRANKFURT/DUESSELDORF (Reuters) -Thyssenkrupp will merely contribute funding to its steel division should the German conglomerate agree on a 50:50 joint venture for the unit with Czech billionaire Daniel Kretinsky, it said on Wednesday. The German group plans to close a sale of 20% in the division to Kretinsky by the end of September while talks over the sale of an additional 30% in Thyssenkrupp Steel Europe (TKSE) continue. Thyssenkrupp said that it would continue to finance the steel division "for the time being" after the sale of the 20% stake in the steel to Kretinsky has been completed by the end of September.
