Thyssenkrupp no longer eying state aid via emergency fund - CFO reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Decision came after intense talks with the government Stand-alone scenario remains an option for steel (Updates with union official)
FRANKFURT, Dec 11 (Reuters) - Thyssenkrupp is no longer pursuing aid for its struggling steel division via an equity injection by Germany’s economic stabilisation fund, the conglomerate’s finance chief told Rheinische Post in an interview.
The WSF fund set up by the government to bail out stricken groups in the wake of the pandemic is “not the proper instrument” to support the unit with equity, Chief Financial Officer Klaus Keysberg said.
Ruling out this form of state aid came after intensive examination and discussions with the German government as well as the leadership of the state of North Rhine-Westphalia, where Thyssenkrupp is based, he added.