Thyssen and Outokumpu stainless steel merger
German steelmaker ThyssenKrupp is discussing plans to merge its stainless unit Inoxum with Finland’s Outokumpu, the story originally published by German newspaper Rheinische Post was later confirmed in a news statement from ThyssenKrupp. It is believed ThyssenKrupp aims for a minority stake in the newly formed entity.
However, a ThyssenKrupp spokesman added “all options for the future of Inoxum remain open, including an initial public offering, a spin off or a sale to another investor.”
“We consider it appropriate to keep all three options open,”
Sources close the process told Reuters ThyssenKrupp was aiming for a complete sale of its stainless steel unit, adding the company’s supervisory board still needed to approve a sale.