EPCG in talks to buy extra 30% in Thyssen's steel business (Il Sole 24 Ore Radiocor) - Berlin, 26 Apr - The German steelmaker Thyssenkrupp said that it has reached an agreement to sell a 20% stake in its steel business to the energy company EP Corporate Group (EPCG).

No financial details were released.

The transaction is expected to close in Thyssen's current fiscal year, it said.

In addition, the parties are discussing the acquisition of a further 30% of the steel business by EPCG with the aim to form a 50/50 joint venture, it added.

"The strategic partnership with EPCG, a leading European energy company, is an important step that contributes to a resilient, cost-efficient and climate-friendly steel production at thyssenkrupp Steel - and thus also a significant contribution to safeguarding the future of the steel industry in Germany," Thyssen said.

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(RADIOCOR) 26-04-24 09:33:37 (0223) 5 NNNN