One of the options discussed was Emirates Steel Arkan's acquisition of a minority stake in Thyssenkrupp Steel as part of a joint venture. It was also mentioned that Emirates Steel Arkan can manufacture products with renewable energy before shipping them to Germany, where Thyssenkrupp can convert them into automotive components.
India's JSW Steel Ltd JSTL.NS and acquisition company CVC Capital Partners have also shown interest in the Thyssenkrupp steel business in recent months, the report said.
Over the past decade, the German conglomerate's management has viewed steel as a hurdle for Thyssenkrupp due to its cyclical nature, but previous efforts to merge the division with a peer, sell it to a competitor, list it or go out of business have all failed.
Comments
No comment yet.