thyssenkrupp AG - M&A Activity 2018

News Details

Ad-hoc | 29 June 2018 22:58

thyssenkrupp AG: thyssenkrupp boards approve creation of a 50/50 steel joint venture with Tata Steel. Signing of a definitive agreement expected shortly.

thyssenkrupp AG / Key word(s): Joint Venture/Agreement

thyssenkrupp AG: thyssenkrupp boards approve creation of a 50/50 steel joint venture with Tata Steel. Signing of a definitive agreement expected shortly.

29-Jun-2018 / 22:58 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

Disclosure of an inside information according to Article 17 MAR

thyssenkrupp boards approve creation of a 50/50 steel joint venture with Tata Steel. Signing of a definitive agreement expected shortly.

The executive board and the supervisory board of thyssenkrupp AG have adopted resolutions for the signing of a definitive agreement to create a 50/50 joint venture, which will combine the European steel businesses of thyssenkrupp and Tata Steel. This follows the signing of a Memorandum of Understanding in September 2017.

Due diligence and independent expert opinions have confirmed the economic viability of the new company and the expected annual recurring synergies of EUR400 to 500 million. The joint venture with Tata Steel is an important milestone for the transformation of thyssenkrupp to an industrials and service group and will lead to a significant improvement of the financial figures of thyssenkrupp, effective with closing.

In case of an Initial Public Offering (IPO) of the joint venture thyssenkrupp will receive a higher share of the proceeds, reflecting an economic ratio of 55/45.

The signing of the definitive agreement is expected shortly. The transaction is subject to merger control clearance in several jurisdictions, including the European Union.

Contact:

Dr. Claus Ehrenbeck

Head of Investor Relations

T: +49-201-844-536464

Peter Sauer

Head of External Communications

T: +49-201-844-536791

29-Jun-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

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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:	[email protected]
Internet:	www.thyssenkrupp.com
ISIN:	DE0007500001
WKN:	750000
Indices:	DAX
Listed:	Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

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