The government of the German state of North Rhine-Westphalia (NRW) has announced its intention to involve itself in talks about the future of ThyssenKrupp's steel division.
thyssenkrupp new headquarters in Essen. Image: thyssenkrupp
In the coming weeks, the UK's Liberty Steel, which earlier this month made a bid for Thyssenkrupp Steel Europe, is set to meet with the NRW government, according to Minister of Economic Affairs Andreas Pinkwart in an interview with Reuters.
"We have received invitations from Liberty for talks, and we will accept them," he said.
The NRW government has also said that it is also ready for further consultations on the subject.
“What concerns us is the question of how things will continue with steel. Talks are being held there, also with possible partners with whom one could meet or merge," Pinkwart added. "It's about the interests of the employees and the locations."
The news that Liberty Steel wants to take over Thyssenkrupp Steel Europe, has been met with scepticism by the Duisburg steelmakers and the NRW government. Liberty has previously and unsuccessfully attempted an entry into the NRW and the region's Prime Minister, Armin Laschet said: "We see nothing new in the situation". The comments have been interpreted by some as outright hostility to a buyout in the region.
Liberty is not the only game in town, however. Sweden's SSAB could be a possible new partner of ThyssenKrupp Steel. SSAB boss Martin Lindqvist announced a few days ago that his company would not be involved in a bidding process for the business. However, he did not comment on a partial entry or partnership.
According to media reports, SSAB is also considering an alliance with Tata Steel Europe to oppose the Liberty deal - which would effectively merge Europe's second and fourth-largest steel businesses. Speculation is growing rife, with even a new version of the proposed merger of Thyssenkrupp and Tata Steel, which failed in 2019, being floated as a possibility.
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