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Germany: ThyssenKrupp takes back assets

By  |  February 12, 2014

German steel manufacturer ThyssenKrupp has been cleared to re-acquire assets as the European Commission found the companies would continue to face competition, reports say.

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    ThyssenKrupp will acquire Acciai Speciali Terni and Outokumpu VVM.

    Reports say the buyout was finalized after a complicated concessions process, as Outokumpu had to first sell AST’s forging operations in 2012 in order for the company to acquire ThyssenKrupp’s stainless steel business Inoxum ahead of ThyssenKrupp’s eventual buyback of the assets.

    Financial details of the acquisitions were not reported.

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