producer and technology group ThyssenKrupp AG has denied
reports that it is planning a capital increase of 790
million ($1.02 billion) in September.
"We currently have no
concrete plans for a capital increase," a company spokesman
told AMM sister publication Steel First July
8, although "the use of such a measure cannot be ruled out
Reports in the German
newspaper Frankfurter Allgemeine Zeitung last week
suggested that a banking consortium led by Commerzbank was
helping the Essen, Germany-based group raise capital to lower
the companys net debt levels, which have risen on the
back of delays in the sale of its Steel Americas business.
ThyssenKrupp, an assessment on a potential future capital
increase can only be made after a successful sale of Steel
Americas and an evaluation of its compliance program.
Brazilian steel and
iron ore producer Cia. Siderúrgica Nacional SA (CSN)
confirmed in May that it was negotiating the terms and
conditions of a potential acquisition of ThyssenKrupps
assets in Brazil and the United States (
amm.com, May 21).
ThyssenKrupp posted a
net loss attributable to shareholders of 656 million
($843.6 million) for its fiscal second quarter ended March 31
due to impairment costs related to the sale of the assets (
amm.com, May 15).
A version of this article was first published by AMM sister
publication Steel First.