DJ Krupp Foundation could participate in Thyssen’s steel division after spinoff.

FRANKFURT (Dow Jones) – The Krupp Foundation could participate in the new steel company in view of the spinoff of Thyssen’s steel division. Thyssen has long been striving to establish its steel division as an independent company. „In various scenarios, the foundation could participate in a new steel company if this promises sustainable secure income for the foundation,“ said Ursula Gather, Chairwoman of the Krupp Foundation’s Board of Trustees, to the Rheinische Post. She also considers a direct involvement possible in the event of an IPO, according to the newspaper.

The Krupp Foundation currently holds 21 percent of the parent company Thyssen.

Regarding a possible entry of billionaire Daniel Kretinsky, Gather said: „According to my information, Thyssen’s management continues to examine all options and hold discussions in order to propose a solution to the supervisory board.“ The company is apparently considering partners of various types: „There are many options for how the planned spinoff could look. Whether it’s a company that supplies energy or green slabs, another strategic investor, or private equity – exploring such partnerships is the responsibility of Thyssen’s management,“ Gather said. She expects a quick decision from the company.

Contact the author: unternehmen.de@dowjones.com

DJG/sha/jhe

(END) Dow Jones Newswires

October 02, 2023 20:00 ET (00:00 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.