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23

ThyssenKrupp nears VDM sale to Lindsay Goldberg: sources

By Tony Seruga

Electricians carry a cover with the logo of ThyssenKrupp AG at the company's headquarters in the western German city of Essen November 19, 2014. REUTERS/Wolfgang Rattay

(Reuters) – ThyssenKrupp (TKAG.DE) is in advanced talks to sell its loss-making alloys business VDM to private equity firm Lindsay Goldberg Vogel, two sources familiar with the matter said on Wednesday.

The sources were confirming a report by German business daily Handelsblatt, which said the price for VDM, which ThyssenKrupp had to buy back from Finland’s Outokumpu (OUT1V.HE) last year, was about 500 million euros ($530 million).

But the head of ThyssenKrupp’s works council said the talks were not concluded and the outcome was dependent on jobs and workplace guarantees for VDM’s staff, who have the power to block any deal. “There is no decision,” Wilhelm Segerath said…

ThyssenKrupp nears VDM sale to Lindsay Goldberg: sources

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