Thyssenkrupp's largest shareholder sees 'window of opportunity' for steel spin-off

By Reuters News

DUESSELDORF, Germany, Oct 14 (Reuters) - The head of the Krupp Foundation, the largest shareholder in German conglomerate Thyssenkrupp TKAG.DE, believes there is currently a "window of opportunity" to spin off the firm's steel division, according to an interview published on Wednesday.

  • "I have the impression that there is currently a good window of opportunity for such a step," foundation head Ursula Gather said in the interview with the WAZ newspaper.

  • She said she was optimistic due to Thyssenkrupp's restructuring deal with the IG Metall union, the sale of its stake in steelmaker HKM and additional protection for Europe's steel industry through EU tariffs.

  • Gather has chaired the board of trustees of the Alfried Krupp von Bohlen und Halbach Foundation, which holds just under 21% of the company, since 2013.

  • CEO Miguel Lopez plans to transform the Ruhr-based group into a financial holding company. He has already taken the hydrogen subsidiary Nucera NCH2.DE and defence company TKMS TKMS.DE public. Its materials trading subsidiary, tk accelis, is set to follow later this year.

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