Thyssenkrupp May Divest its Steel Unit by Year-End

SEATTLE (Scrap Monster): Germany-based steelmaker Thyssenkrupp is in advanced talks with Czech billionaire Daniel Kretinsky to sell a stake of up to 50 percent in its steel business, which the company has been looking to divest since early this year, according to local media reports.

The parties are expected to sign a deal by the end of this year, although spokespeople from both sides have declined to comment on the issue.

Other interested parties were Emirates Steel Arkan, Brazil's CSN and the financial investor CVC, as SteelOrbis previously reported.

Courtesy: www.steelorbis.com