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Thyssenkrupp targets October 28 for listing of materials trading unit, sources say - Finance news and analysis from Global Banking & Finance Review
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Thyssenkrupp targets October 28 for listing of materials trading unit, sources say

Published by Global Banking & Finance Review

Posted on October 5, 2026

2 min read

· Last updated: October 5, 2026

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Thyssenkrupp to List Materials Trading Division tk accelis on October 28

Thyssenkrupp's Strategic Spin-off and Listing Details

Listing Timeline and Structure

FRANKFURT/DUESSELDORF, Oct 5 (Reuters) - Thyssenkrupp is targeting October 28 for the separate listing of its materials trading division tk accelis on the German stock exchange, according to two people familiar with the matter.

The spin-off of 49% of tk accelis marks the conglomerate's latest step to simplify its structure and turn into a slim holding company owning substantial stakes in its operating divisions.

Key Financial Highlights

  • tk accelis could reach €3.6 billion ($4.02 billion) enterprise value, according to Jefferies analysts
  • Thyssenkrupp previously indicated that a listing could happen at the end of October
  • tk accelis employs around 15,500 people, is active in 30 countries and had sales of €11.4 billion in the 2024/2025 fiscal year
  • The business targets an adjusted margin for earnings before interest, tax, depreciation and amortisation of 4% to 5%, compared with 2% during 2024/2025
  • Thyssenkrupp declined to comment on the date, saying only that the listing was planned to take place by the end of 2026
Currency Exchange Rate

($1 = 0.8947 euros)

Reporting and Editorial Credits

(Reporting by Christoph Steitz and Tom Kaeckenhoff, editing by Emanuele Berro)

Key Takeaways

  • A listing on October 28 is expected for tk accelis, pending shareholder‑approved spin‑off of 49%
  • tk accelis, with €11.4 bn in FY 2024/25 sales and ~15,500 employees, follows the Materials‑as‑a‑Service model
  • Jefferies values tk accelis at about €3.6 bn EV; Thyssenkrupp keeps majority control under its ACES 2030 realignment

Frequently Asked Questions

When is Thyssenkrupp planning to list its materials trading division?
Thyssenkrupp is targeting October 28 for the listing of its materials trading unit tk accelis on the German stock exchange.
What is the expected enterprise value of tk accelis?
Jefferies analysts estimate the enterprise value of tk accelis could reach €3.6 billion ($4.02 billion).
How significant is the tk accelis division within Thyssenkrupp?
tk accelis employs around 15,500 people, operates in 30 countries, and reported sales of €11.4 billion for the 2024/2025 fiscal year.
What margin is tk accelis targeting after the spin-off?
The business aims for an adjusted EBITDA margin of 4% to 5%, up from 2% in 2024/2025.
Has Thyssenkrupp confirmed the listing date officially?
Thyssenkrupp declined to confirm the exact date, stating only that the listing is planned by the end of 2026.

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