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4-Traders Homepage  >  Equities  >  Xetra  >  ThyssenKrupp AG    TKA   DE0007500001

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19.505 EUR   -0.54%
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ThyssenKrupp In Talks With Potential Buyers For Brazil Steel Operations

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06/03/2012 | 03:43pm CEST

A ThyssenKrupp AG (>> ThyssenKrupp AG) spokesman Sunday confirmed the company is in talks with potential investors for its steel plant in Brazil.

"We are certainly in talks with Vale and with all other interested parties," the spokesman said.

He was responding to a report in the weekly wirthschaftswoche published Sunday that said the company has potential buyers for both its Brazil and Alabama steel plants.

The Brazilian mining company Vale SA (VALE) is interested in the assets, the article said, citing Brazilian industry sources.

The head of the Vale group, Murilo Ferreira, met last week with Brazilin President Dilma Rousseff to discuss details of a full takeover of ThyssenKrupp's steel plant as well as the progress on negotiations with ThyssenKrupp, according to the report. Vale already owns a 27% stake in ThyssenKrupp's steel plant, which is near Rio de Janeiro.

Another interested investor is Eike Batista, the article said. Earlier this year, Batista formed a venture with German utility E.ON AG (>> E.ON AG) to build power plants in Brazil.

POSCO (PKX) is interested in acquiring ThyssenKrupp's Alabama steel plant, the article said, without elaborating.

In mid-May, the steelmaker said it was considering selling new steel mills in the U.S. and Brazil, or bringing in partners to improve performance sustainably.

At the time, ThyssenKrupp Chief Executive Heinrich Hiesinger declined to provide a timeframe for selling the Steel Americas business, citing the complexity of such a transaction. But he said ThyssenKrupp had to act on the operations in Brazil and the U.S., after they had accumulated losses of around EUR500 million in the first six months of the company's business year. In fiscal 2011, the losses had amounted to around EUR1 billion.

Magazine website: http://www.wiwo.de

-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.

Stocks mentioned in the article : ThyssenKrupp AG, E.ON AG
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Financials (€)
Sales 2016 40 687 M
EBIT 2016 1 496 M
Net income 2016 437 M
Debt 2016 4 386 M
Yield 2016 1,01%
P/E ratio 2016 23,20
P/E ratio 2017 12,70
EV / Sales 2016 0,38x
EV / Sales 2017 0,36x
Capitalization 11 039 M
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 22,1 €
Spread / Average Target 13%
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Managers
NameTitle
Heinrich Hiesinger Chief Executive Officer
Ulrich Lehner Chairman-Supervisory Board
Guido Kerkhoff Chief Financial Officer
Martin Holz Chief Information Officer
Bernhard Pellens Independent Member-Supervisory Board
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Sector and Competitors
1st jan.Capitalization (M$)
THYSSENKRUPP AG6.35%12 115
VALE SA36.98%25 622
NIPPON STEEL & SUMITOM..-11.86%19 056
ARCELORMITTAL71.76%17 535
POSCO--.--%16 822
NUCOR CORPORATION30.82%16 761
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