Finance
Flacks group is 'ready to bid' for thyssenkrupp's steel unit should current sale efforts fail
Published by Global Banking & Finance Review®
Posted on March 5, 2026
2 min readLast updated: March 5, 2026
Quick Summary
U.S. investment firm Flacks Group, led by Michael Flacks, signaled readiness to bid for Thyssenkrupp’s steel division if current sale talks—primarily with India’s Jindal Steel International—collapse. Thyssenkrupp shares rose ~1.5% following the announcement.
Flacks Group 'ready to bid' for Thyssenkrupp steel business if current sale talks fail
Flacks Group Eyes Thyssenkrupp Steel Amid Ongoing Sale Negotiations
By Andres Gonzalez
Current Status of Thyssenkrupp Steel Sale
LONDON, March 5 (Reuters) - U.S. investment fund Flacks Group would be ready to bid for the steel division of Germany's Thyssenkrupp should current efforts to sell it fail, its CEO Michael Flacks told Reuters on Thursday.
Thyssenkrupp has been in talks with Jindal Steel International about a possible sale of Thyssenkrupp Steel Europe (TKSE) since autumn, discussions that are yet to result in a firm bid for the business.
Flacks Group's Investment Background
Flacks Group, which describes itself as one of the leading investors in distressed assets and special situations worldwide, was picked in December by Italy for exclusive talks on the sale of bailed-out steel company Acciaierie d'Italia.
Potential Interest in Thyssenkrupp and Other Steel Assets
"Our main interest is now in Italy, but we are interested in major steel companies, and if the talks regarding an acquisition of Thyssenkrupp's steel business fail, we are ready to bid for it," Flacks said.
Shares in Thyssenkrupp turned positive on the news and were up as much as 2.2%.
Other Acquisition Interests
Flacks told the FT last month that he was also interested in acquiring British Steel.
Thyssenkrupp's Restructuring Efforts
A Thyssenkrupp spokesperson said the restructuring of TKSE, which includes the cutting or outsourcing of up to 11,000 jobs, had boosted the division's attractiveness, and that the company was in constructive talks with Jindal Steel International.
(Reporting by Andres Gonzalez; Additional reporting by Christoph Steitz; Editing by Toby Chopra, Jane Merriman and Jan Harvey)
Key Takeaways
- •Flacks Group specializes in rescuing and turning around distressed or complex businesses and has a global asset base exceeding $4 billion, making it structurally suited for large carve‑out bids. (flacksgroup.com)
- •Thyssenkrupp is currently engaged in advanced negotiations with Jindal Steel International for its steel division, a strategic move central to its broader restructuring and green‑steel ambitions. (steelorbis.com)
- •The steel unit is under significant restructuring, including €401 million in Q1 2025/26 costs, while the company also sold a 20% stake to EP Corporate Group earlier, underscoring continuing financial pressure and strategic shifts. (gmk.center)
References
Frequently Asked Questions about Flacks Group is 'ready to bid' for Thyssenkrupp's steel unit should current sale efforts fail
1Who is interested in bidding for Thyssenkrupp's steel division?
The U.S. investment fund Flacks Group has expressed interest in bidding for Thyssenkrupp's steel unit if current sale efforts fail.
2What impact did the news have on Thyssenkrupp's shares?
Thyssenkrupp's shares turned positive and traded 1.5% higher following the announcement.
3Who commented on the possible bid for Thyssenkrupp's steel unit?
Michael Flacks, Chief Executive of Flacks Group, commented on the potential bid.
4When was the statement regarding Flacks Group's interest made?
Michael Flacks made the statement on Thursday, March 5, as reported by Reuters.
