Steel: Thyssenkrupp Investor EPG Clears Path for Jindal Takeover - Thyssenkrupp Steel's Future Uncertain as Jindal Eyes Full Acquisition, EPG Plans to Boost Stake
Thyssenkrupp Steel, the struggling steel division of the German conglomerate, is set for a significant change. In mid-September, Jindal expressed interest in acquiring all shares of the ailing unit. Meanwhile, EPG, which already owns 20% of the company, plans to increase its stake by another 30%.
Thyssenkrupp Steel has been facing difficulties for years, leading the company to explore options for its steel division. The transition to green energy, a crucial step for the company's future, has proven costly. Adding to the complexity, Daniel Kretinsky, who held a 20% stake in Thyssenkrupp Steel Europe (TKSE), has agreed to step down from his majority shareholding position and receive a refund of the purchase price as of October 2025.
EPG, which initially acquired a 20% stake in Thyssenkrupp Steel, is now planning to increase its holding by another 30%. This move could potentially give EPG a controlling stake in the company, pending regulatory approval.
Thyssenkrupp's steel division is poised for a change in ownership, with Jindal showing interest in acquiring all shares. EPG's planned increase in stake could also significantly reshape the company's future. The sale of the steel division is expected to help Thyssenkrupp focus on its other businesses and navigate the costly transition to green energy.
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