embargoed-Thyssenkrupp steel division head says investor Kretinsky could be an option

Companhia Siderurgica Nacional SA

08/09/2023 04:00

Sept 8 (Reuters) - The head of Thyssenkrupp's  TKAG.DE 
steel business said he was open to talks with Czech billionaire
Daniel Kretinsky about his becoming an investor in the business,
German newspaper Westdeutsche Allgemeine Zeitung (WAZ) reported
on Friday.
    Steel CEO Bernhard Osburg told WAZ that Kretinsky's
background in the energy sector was a qualification.
    "First of all, there is a logic that can't be dismissed out
of hand," he told the paper, when asked about Kretinsky's
potential role as an investor.
    A person familiar with the matter told Reuters in June that
Kretinsky was interested in acquiring a stake in Thyssenkrupp's
steel business, which is currently looking for a buyer or
co-owner.
    Kretinsky's holding company, Energeticky a Prumyslovy
Holding (EPH), one of Europe's largest energy groups, could also
act as an energy supplier for Thyssenkrupp Steel, the person
said at the time.
    Thyssenkrupp resumed efforts to divest its steel division
earlier this year, after the plan was shelved following failed
efforts to list, sell or find a merger partner.
    Other parties including Emirates Steel Arkan, Brazil's CSN
 CSNA3.SA  and financial investor CVC  CVC.UL  have previously
expressed interest in the unit, people familiar with the matter
have told Reuters.
    German Economy Minister Robert Habeck said in June he would
do whatever it takes to preserve the country's steel industry by
decarbonising production processes, after weeks of doubts
surrounding the sector led to steel worker protests.

 (Reporting by Ludwig Burger; Editing by Leslie Adler)
 ((ludwig.burger@thomsonreuters.com; +49 30 220133634;))