Thyssenkrupp on Thursday said it agreed to sell its infrastructure unit to German investment firm FMC Beteiligungs KG for an undisclosed sum, the second deal in as many weeks as the German conglomerate implements its reorganisation plan. The deal, which is expected to close in the second half of the year, comes a week after Thyssenkrupp sold its mining equipment business to Denmark's FLSmidth. Both units are part of Thyssenkrupp's Multi Tracks division, which consists of businesses the steel-to-submarines group want to sell, restructure or close in a bid to focus on its most profitable divisions.
Thyssenkrupp is considering an initial public offering (IPO) or a deal with a special purpose acquisition company (SPAC) for its hydrogen business, Chief Executive Martina Merz said on Tuesday. A 66-34 joint venture of Thyssenkrupp and Italy's De Nora , Thyssenkrupp Uhde Chlorine Engineers (TKUCE) is the world's largest supplier of chlor-alkali membrane technologies used to produce hydrogen.
FRANKFURT (Reuters) -Thyssenkrupp's closely watched cash flow plunged deeper into the red in the second quarter, hit by restructuring costs and investments that overshadowed a guidance upgrade on the back of stronger demand and prices. Shares in the German conglomerate fell as much as 9.6% after the group said that negative free cash flow before mergers and acquisitions (M&S) widened to 750 million euros ($911 million), worse than analysts at Jefferies and JP Morgan had expected. Returning to positive cash flow has been one of the key targets of the submarines-to-bearings group in its efforts to win back confidence among investors and to prove it has a sustainable business model.