Published by Global Banking & Finance Review®
Posted on January 31, 2025
1 min readLast updated: January 26, 2026
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Thyssenkrupp's CEO stated that Kretinsky's 20% stake in their steel unit can be reversed if collaboration talks fail, ensuring strategic flexibility.
DUESSELDORF (Reuters) - Thyssenkrupp's CEO said on Friday that the purchase of 20% in the German industrial group's steel business by a holding of Czech billionaire Daniel Kretinsky can be reversed if talks over a deeper collaboration fail.
Speaking at ThyssenKrupp's annual shareholder meeting, CEO Miguel Lopez said that there is a fallback agreement to wind down his investment if the two sides fail to agree on 50/50 shared ownership in the embattled steel business as planned.
(Reporting by Tom Kaeckenhoff in Duesseldorf; Writing by Ludwig Burger; Editing by Miranda Murray)
Kretinsky acquired a 20% stake in Thyssenkrupp's steel business.
CEO Miguel Lopez stated that the investment can be reversed if an agreement on shared ownership is not reached.
Yes, there is a fallback agreement to wind down Kretinsky's investment if the two sides cannot agree on a 50/50 ownership structure.
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