The head of the Krupp Foundation, Ursula Gather, expects an early decision on the future of Thyssenkrupp’s steel business.
“All those involved are pursuing the independence of steel at high speed. Staying put is certainly not an option for Thyssenkrupp. I can imagine that a decision will be made in the foreseeable future,” said the chairwoman of the board of trustees of the Alfried Krupp von Bohlen and Halbach Foundation “Rhineland Post”.
With 21 percent, the Krupp Foundation is the largest individual shareholder in Thyssenkrupp AG. Gather is a member of the supervisory board. The Thyssenkrupp steel division is Germany’s largest steel manufacturer. At the end of June it had 26,250 employees. The parent company has long been aiming to make the steel division independent.
Gather believes it is possible for the foundation to invest directly in the independent company, even in the event of an IPO: “In a wide variety of variants, the foundation’s participation in a new steel company is conceivable if this promises sustainable, secure income for the foundation,” she said the newspaper. If a spin-off were to take place, the shareholders of Thyssenkrupp would automatically also become shareholders of the new steel company.
Gather did not say in which direction an independence could go: “There are many options for what the planned independence could look like. Whether a company that supplies energy or green slabs, another strategic investor or private equity – such partnerships should be explored , is a matter for the board of Thyssenkrupp,” said Gather. “According to my information, the Thyssenkrupp board is continuing to examine all options and is holding discussions in order to then propose a solution to the supervisory board.”
