thyssenkrupp AG — M&A Activity 2012

Jan 31, 2012

News Details

Ad-hoc | 31 January 2012 08:58

ThyssenKrupp AG: ThyssenKrupp confirms planned combination of Inoxum with Outokumpu

ThyssenKrupp AG / Key word(s): Strategic Company Decision

31.01.2012 08:58

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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ThyssenKrupp confirms planned combination of Inoxum with Outokumpu;
Agreement reached with employee representatives

ThyssenKrupp AG confirms that an agreement in principle has been reached
about the combination of Outokumpu and Inoxum, ThyssenKrupp's stainless
steel business. The Management Board of ThyssenKrupp AG has already
generally approved the transaction. In addition to that, an agreement was
reached between the negotiating partners and the employee representatives
this morning. The agreement includes rules for site and employment
protection. The melt shop in Krefeld will be gradually shut down until the
end of 2013. At least until this point in time the strip casting equipment
will continue to operate. The melt shop in Bochum will be preserved until
the end of 2016. The agreement also generally excludes compulsory
redundancies until the end of 2015. All German production sites of Inoxum
will be preserved without restrictions at least until 2015.

The results of the agreement with the employee representatives are subject
to confirmation by the Management Board of ThyssenKrupp AG. The entire
transaction requires the approval by the Supervisory Board of ThyssenKrupp
AG. The Supervisory Board of ThyssenKrupp AG will have an extraordinary
meeting this afternoon.

The transaction agreement values Inoxum at an enterprise value of approx.
EUR 2.7 bn. Under the agreement, ThyssenKrupp would obtain a minority stake
in the new company for its transfer of Inoxum. In addition, the
consideration would include a significant cash payment from Outokumpu to
repay ThyssenKrupp's financial receivables towards Inoxum as well the
assumption of third-party financial liabilities and pension liabilities of
Inoxum by Outokumpu.

Other than the board approval, the planned combination will be subject to a
number of conditions, including regulatory approval.

This release is a mandatory announcement pursuant to § 15 of the German
Securities Trading Act (Wertpapierhandelsgesetz). Neither this release nor
the information contained herein constitutes an offer to sell or a
solicitation of an offer to buy securities. In particular, this release
also does not constitute an offer to sell or a solicitation of an offer to
buy securities in the United States of America.
This release and the information contained herein are not being issued and
may not be distributed in the United States of America, Canada, Japan and
Australia.

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Language: English
Company: ThyssenKrupp AG
ThyssenKrupp Allee 1
45143 Essen
Germany
Phone: +49 (0)201 844-0
Fax: +49 (0)201 844-536000
E-mail: info@thyssenkrupp.com
Internet: www.thyssenkrupp.com
ISIN: DE0007500001
WKN: 750000
Indices: DAX
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard);
Freiverkehr in Berlin, Hamburg, Hannover, München, Stuttgart;
Terminbörse EUREX

Weitere Informationen im Internet unter Investor Relations: Anleihen / Creditor Relations, Further information can be found on our website under Investor Relations: Bonds / Creditor Relations

End of Announcement DGAP News-Service

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