Thyssenkrupp is considering spin-off for its steel units, suggest media reports. The German steelmaker are said to be thinking about issuing stock in the distressed unit. The company, however, is yet to confirm any such development.
In November, Davis Index had reported about the talks with Liberty Steel for potential acquisition of Thyssenkrupp’s European steel units nearing the due diligence stage. Neither steelmaker is yet to release a statement on the updates.
But there were some concerns raised about the acquisition by Thyssenkrupp’s largest shareholder Alfried Krupp von Bohlen and Halbach Foundation, which owns 21pc. Most stakeholders had voiced concerns about viability of the bid and funding model.