US private equity bids for ThyssenKrupp Terni
private equity firm has bid for the Italian stainless steel assets of German steelmaker ThyssenKrupp, a move that may propel a structural change in the European stainless steel industry, Canada Goose Coats On Sale industry sources told Reuters.
A canada goose outlet source at Germany cheap Canada Goose biggest steelmaker said the group is likely to review Canada Goose Outlet the bid at a board meeting on Friday for its Italian Acciai Speciali Terni plant, canada goose uk shop which an analyst said could be worth as much as $1 billion.
A spokesman from ThyssenKrupp AG declined cheap jacketstock canada goose uk to comment.
know for a fact there buy canada goose jacket is a private equity firm interested in Terni, said a source with direct knowledge of the situation, who declined to be named. is a bid on the table.
The European stainless steel industry has been hit by overcapacity and increasing competition from Asia in the last few years and this has pushed two of the largest players, ThyssenKrupp and ArcelorMittal, to spin off their stainless steel units.
ThyssenKrupp has said it was considering a sale canada goose clearance sale or an IPO for the unit, which comprises plants in Germany, Italy, Mexico, China and buy canada goose jacket cheap the United States employing around 11,300 people.
Sources at ThyssenKrupp said the Canada Goose online company would prefer to sell the stainless unit as a whole but analysts said it will not be Canada Goose Parka easy to find uk canada goose outlet parties canada goose black friday sale interested in buying the whole division and it may Canada Goose sale make canada goose store more sense Canada Goose Jackets for the company to sell its assets separately.
MERGER uk canada goose OPTIONS The sale of ThyssenKrupp Italian canada goose stainless steel plant, may also facilitate a merger between ThyssenKupp German stainless steel assets, known as Nirosta, with ArcelorMittal spun off unit, Aperam, or Finland Outokumpu.
the company is split up than it would be easier for ThyssenKrupp Nirosta to merge with Aperam or Outokumpu, another industry source said.
these days, may look at regulations in a more canada goose uk outlet flexible way for the suffering stainless steel industry, he added referring to potential anti competition rules that may prevent mergers between the major players.
Selling the Italian plant of Terni, one of the biggest and more advanced stainless steel producing plants in Europe may help ThyssenKrupp canada goose coats cut its debt and would give it some financial respite, at least temporarily.
Private canada goose clearance equity firms and industrial investors have shown interest in other ThyssenKrupp stainless assets including VDM, one of the world leading makers of high performance materials, including canadian goose jacket nickel canada goose coats on sale allows, special steels Canada Goose Online and titanium canada goose uk black friday products, sources close to the company said.
is easy to sell as it is an interesting company with future potential, fully integrated and there is no need for reorganisation, said Markus Moll the managing director of steel consultancy SMR.
ThyssenKrupp invited private equity buyers to canada goose factory sale a roadshow about a sale of its stainless business, two sources familiar with the matter said earlier this month.
Europe stainless steel industry will see major curtailment of production between this year and next as private equity and other new investors get involved, Moll said. (Reporting by Silvia Antonioli; additional reporting by Marilyn Gerlach and Philipp Halstrick in FRANKFURT; editing by William Hardy).