Krupp-Stiftung supports Thyssenkrupp steel division spin-off

Ursula Gather, head of the Krupp-Stiftung, has expressed support for the spin-off of Thyssenkrupp’s steel division, Thyssenkrupp Steel Europe. In an interview with the Westdeutsche Allgemeine Zeitung, Gather stated that there is currently a “good window of opportunity” for such a move.

The Krupp-Stiftung is the largest single shareholder in Thyssenkrupp, holding approximately 21 percent of the shares. This stake is significant because a spin-off requires a three-quarters majority of the capital represented at a general meeting; if attendance is below 84 percent, the foundation’s holding could act as a blocking minority.

Gather cited several factors supporting the independence of the steel unit, including the restructuring collective agreement, the sale of HKM, increased protection from EU tariffs, and progress on the direct reduction plant in Duisburg. While Thyssenkrupp management aims to make the division independent without state funding from the federal or North Rhine-Westphalia governments, Gather believes this is achievable. She also noted that the foundation would be open to maintaining a minority stake in the newly independent steel company, similar to previous spin-offs like TKMS.