Thyssenkrupp raises steel unit valuation to 3 billion euros
Thyssenkrupp raised its steel unit valuation to 3 billion euros after sale talks failed. The group also cut its sales outlook as quarterly profits declined.
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THYSSENKRUPP AG raised the book value of its steel unit to 3 billion euros ($3.5 billion) in the morning. The 25% increase follows the collapse of sale negotiations with India-based Jindal Steel. Revaluing the asset signals a shift in divestment strategy as the group pivots toward a holding company structure.
