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Deka Investment Seeks Steel Strategy from thyssenkrupp

Steel News - Published on Wed, 29 Jul 2020

Image Source: Deka Investment Thyssenkrupp
Reuters reported that 11th-largest shareholder Deka Investment said that Thyssenkrupp must soon find a solution for its struggling steel unit and say how it will spend the 17.2 billion euros in proceeds from the sale of its elevator division. Deka Investment head of sustainability and corporate governance Ingo Speich said “There has to be a solution for steel in the near term. It would be good if there was clarity until the next annual general meeting. Completely divesting steel will be difficult but a joint venture or merger with a peer would be the most likely options. Time is against Thyssenkrupp and in favour of its peers.”

Thyssenkrupp’s next AGM is scheduled for February 5, 2021.

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Posted By : Yogender Pancholi on Wed, 29 Jul 2020
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