German industrial giant thyssenkrupp announced that negotiations with investor CE Capital on the sale of steelmaker HKM (Hüttenwerke Krupp Mannesmann) remained unresolved. Following this development, the future of the company is uncertain and the situation of approximately 3,000 employees is at risk.
thyssenkrupp Steel Europe (TKSE) stated in a press release, "By transferring HKM shares, we aimed to provide a sustainable future for the company and its employees. However, we are deeply saddened that the process did not progress as we wanted." The company emphasized that it is ready to continue talks and will evaluate the current situation with its shareholders.
According to reports in the German press, CE Capital has decided to end its negotiations to purchase HKM. The possibility of HKM's closure could accelerate the restructuring process within thyssenkrupp's steel division. This process may align with plans that include Czech billionaire Daniel Kretinsky increasing his stake in TKSE to 50%.
HKM has an annual steel production capacity of around 4 million tons and it remains unclear whether new buyers will step in to keep HKM in operation. thyssenkrupp stated that they are in the process of evaluating alternative solutions and that they are committed to their capacity reduction targets in steel production.
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