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thyssenkrupp : Weak cash flow lays bare Thyssenkrupp s long road to recovery

thyssenkrupp : Weak cash flow lays bare Thyssenkrupp s long road to recovery
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Thyssenkrupp : with continued strong momentum in 2nd quarter 2020/2021 – full-year forecast raised again

2nd-quarter order intake, sales and adjusted EBIT higher year-on-year Performance measures taking effect: significant year-on-year improvement in almost all segments Free cash flow before M&A as expected negative; noticeable increase in working capital as a result of market recovery and corresponding demand, additionally impacted by cash outflows for restructuring and investment Full-year forecast raised: sales growth in low 2-digit percentage range and adjusted EBIT in mid 3-digit million euro range expected Martina Merz: We made up more ground in the 2nd quarter. But the realignment of thyssenkrupp remains a journey of many small steps - and we re taking those steps

Thyssenkrupp calls off talks with UK s Liberty on steel unit sale

Firms/companies > T > ThyssenKrupp Thyssenkrupp calls off talks with UK s Liberty on steel unit sale 23 February 2021 German conglomerate Thyssenkrupp has called off talks to sell its steel division to Britain’s Liberty Steel citing failure to agree on key issues that the company sought to address. Liberty Steel, led by Sanjeev Gupta had, last month, submitted a revised non-binding bid for Thyssenkrupp’s Steel Europe, Europe’s second biggest in terms of sales, which sources said included commitments to protect jobs and sites. Thyssenkrupp, however, found the revised offer below expectations as no common solution could be found for key requirements addressed by Thyssenkrupp.

ThyssenKrupp ends talks with Liberty over potential steel unit takeover

Liberty Steel over the potential sale of the German conglomerate’s steel unit. The parent company made the announcement Wednesday evening, Feb. 17. “We opened the door for negotiations, but in the end our ideas about the corporate value and the structure of the transaction were far apart,” ThyssenKrupp Chief Financial Officer Dr. Klaus Keysberg said. Keysberg added ThyssenKrupp regrets the decision because it perceived Liberty Steel “as a serious partner in the process.” “There was a close exchange between ThyssenKrupp and Liberty Steel on a number of complex topics. As a result, however, no common solution could be found for key requirements addressed by ThyssenKrupp,” the group also stated.

UPDATE 5-Thyssenkrupp ends talks with UK s Liberty on steel unit sale

Christoph Steitz, Tom Käckenhoff, Arno Schuetze 3 分钟阅读 Liberty Steel had submitted non-binding bid for unit Liberty Steel remains open for talks with Thyssenkrupp Shares down 4.8% (Adds comments from Liberty Steel’s Gupta, updates shares) By Christoph Steitz, Tom Käckenhoff and Arno Schuetze FRANKFURT, Feb 18 (Reuters) - German conglomerate Thyssenkrupp ended talks to sell its steel division to Britain’s Liberty Steel due to differences over value, the latest setback in efforts to consolidate the European sector. Liberty Steel, led by commodities tycoon Sanjeev Gupta, last month submitted a firmed-up non-binding bid for Thyssenkrupp’s steel unit, Europe’s second biggest in terms of sales, which sources said included commitments to protect jobs and sites.

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