Capital market-relevant press releases, 2016-04-04, 04:17 PM
thyssenkrupp to acquire Vale’s minority interest in thyssenkrupp CSA
thyssenkrupp is streamlining the ownership structure of the Brazilian steel mill thyssenkrupp CSA (CSA) and purchasing all the shares currently held by Vale S.A. (26.87%). thyssenkrupp will thus become the sole owner of CSA. The shares are being acquired for a symbolic purchase price in combination with an earn-out for the event of a sale of CSA. The transaction will not result in any financing requirements for thyssenkrupp and will not have any influence on the balance sheet valuation of CSA.
In connection with the acquisition, existing shareholder agreements and other operating contracts between Vale and CSA will be renegotiated or cancelled. thyssenkrupp will thus reduce complexity and risks and increase its room for maneuver for the further development of CSA.
The completion of this transaction is subject to approval by the thyssenkrupp supervisory board and subject to fulfillment of conditions precedent and approvals, including by the Conselho Administrativo de Defesa Econômica (CADE).
thyssenkrupp is a diversified industrial group with traditional strengths in materials and a growing share of capital goods and services businesses. Around 155,000 employees in nearly 80 countries work with passion and technological expertise to develop high-quality products and intelligent industrial processes and services for sustainable progress. Their skills and commitment are the basis of our success. In fiscal year 2014/2015 thyssenkrupp generated sales of around €43 billion.
Together with our customers we develop competitive solutions for the challenges of the future in the areas Mechanical, Plant and Materials. With our engineering expertise we enable our customers to gain an edge in the global market and manufacture innovative products in a cost- and resource-friendly way. For us, technical progress and innovations, allied with the combined strength of the Group, are key factors enabling us to meet current and future customer and market requirements around the world, grow on the markets of the future, and generate strong and stable earnings, cash flows and value growth.
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