German steelmaker Thyssenkrupp has announced that it has completed the sale of a 20 percent stake in its European subsidiary ThyssenKrupp Steel to Czech Republic-based energy company EP Corporate Group (EPCG).
“The successful closing of EPCG’s 20 percent stake in Thyssenkrupp's steel business is an important step towards the independence of the steel business and a resilient, cost-efficient and climate-friendly steel production,” Miguel López, CEO of Thyssenkrupp AG, said. The parties are already discussing the acquisition of a further 30 percent stake in Thyssenkrupp’s steel business by EPCG, aiming to create a 50/50 joint venture.