29.06.2018
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DGAP-Adhoc: thyssenkrupp AG: thyssenkrupp boards approve creation of a 50/50 steel joint venture with Tata Steel. Signing of a definitive agreement expected shortly.
DGAP-Ad-hoc: 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.
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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
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29-Jun-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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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
End of Announcement DGAP News Service
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700035 29-Jun-2018 CET/CEST
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