On 31.07.2024 thyssenkrupp successfully completed the investment 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 closing now completed, EPCG acquires a 20 % stake in thyssenkrupp’s steel business in accordance with the agreement dated April 26, 2024. thyssenkrupp has thus made further progress in the process of realigning thyssenkrupp Steel Europe and achieving full entrepreneurial independence.
“The successful closing of EPCG’s 20 % stake in thyssenkrupp’s steel business is an important step towards the entrepreneurial independence of the steel business and towards a resilient, cost-efficient and climate-friendly steel production,” said Miguel López, CEO of thyssenkrupp AG.
“We are pleased to have finalized the acquisition of the 20 % stake in thyssenkrupp’s steel business. As EPCG, we will contribute our transformation expertise for the benefit of thyssenkrupp Steel,” said Jiří Nováček, EPCG Board Member.
The parties are already discussing the acquisition of a further 30 % of the shares in thyssenkrupp’s steel business by EPCG. The aim is to form an equal 50/50 joint venture.
