Thyssenkrupp Eyes Oct 28 Spin-Off
Thyssenkrupp plans the October 28 stock exchange listing for its materials trading division tk accelis. The spin-off of a 49 percent stake aims to simplify the industrial conglomerate structure.
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THYSSENKRUPP AG targets an October 28 listing for its materials trading division tk accelis on the Germany stock exchange, people familiar with the matter said during midday. The spin-off of a 49% stake represents the conglomerate's latest structural overhaul to operate as a streamlined holding company. Jefferies analysts project the unit could reach an enterprise value of €3.6 billion ($4.02 billion).
