Wednesday, December 2, 2020
News, Economy, Forex, Forum


Exclusive: Thyssenkrupp opens data room in sale of plant-building unit

ESSEN, Germany (Reuters) – Thyssenkrupp has begun due diligence with potential bidders for its plant division as the German conglomerate…

By financial2020myday , in Stock Markets , at October 9, 2020

ESSEN, Germany (Reuters) – Thyssenkrupp has begun due diligence with potential bidders for its plant division as the German conglomerate accelerates a radical overhaul to sell or turn around ailing business units in the next two years, a top executive told Reuters.

In his first interview, Volkmar Dinstuhl, who oversees divestments of non-core assets, said the company has opened the data room to buyers of its plant-building units and received expressions of interest for its stainless steel division.

Thyssenkrupp (DE:TKAG) is also open to considering offers for its automotive and remaining industrial assets, said Dinstuhl, who heads up the group’s Multi-Tracks division, which houses businesses Thyssenkrupp no longer wants to own.

“Our goal is to find a solution for all our businesses within the next two years,” said Dinstuhl, the first time Thyssenkrupp has outlined a timeline for restructuring.

Comments


Leave a Reply


Your email address will not be published. Required fields are marked *