Thyssenkrupp completes the sale of 20 percent of its steel business

Thyssenkrupp has completed the acquisition of the energy company EP Corporate Group (EPCG) in thyssenkrupp's steel business. The transaction had previously been approved by both the Supervisory Board of thyssenkrupp AG and all relevant authorities. With the now completed closing, EPCG acquires a 20 percent stake in Thyssenkrupp's steel business in accordance with the agreement dated April 26, 2024. This marks a further important step forward in the process of transforming thyssenkrupp Steel Europe towards a full entrepreneurial independence, said Thyssenkrupp.

“The successful closing of EPCG's 20% stake in Thyssenkrupp's steel business is an important step towards the independence of the steel business and a resilient, cost-efficient and climate-friendly steel production,” said Miguel López, CEO of Thyssenkrupp AG. “We are pleased to have closed the acquisition of the 20% stake in thyssenkrupp's steel business. As EPCG, we will contribute our transformation expertise to the benefit of thyssenkrupp Steel”, said Jiří Nováček, EPCG Member of the Board.

The parties are already discussing the acquisition of a further 30 percent stake in thyssenkrupp's steel business by EPCG. The aim is to form an equal 50/50 joint venture.

Source and Photo: Thyssenkrupp