Shares of ThyssenKrupp and Tata Steel's Joint Venture Halved if Both are Listed

From: China Steel News
publisher: Gloria Wang
Time: 2017-12-27

    A director of the German steelmaker ThyssenKrupp said on December 22 that if the company and the European steel joint venture planned by Tata Steel were able to list on the stock market by the end of 2024, ThyssenKrupp may Its shareholding in the joint venture has been cut in half.

    Oliver Burkhard, director of personnel at ThyssenKrupp, told reporters during a conference call that both companies have promised to hold the same share of equity in the first six years after the joint venture was formed. He also said that if the joint venture is listed, they will retain at least 50.1% stake, which means that ThyssenKrupp's shareholding will be reduced to 25.05%.

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