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MarketScreener Homepage  >  Equities  >  Xetra  >  ThyssenKrupp    TKA   DE0007500001

THYSSENKRUPP (TKA)
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ThyssenKrupp AG : ThyssenKrupp's Largest Shareholder Didn't Buy Shares in Capital Increase

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12/03/2013 | 01:06pm CET

By Jan Hromadko and Hendrik Varnholt

The single largest shareholder in ThyssenKrupp AG (TKA.XE) said Tuesday that it turned down a chance buy more stock in the German industrial giant, a decision that shrinks its stake and effectively strips it of its veto right.

The Alfried Krupp von Bohlen und Halbach Foundation owned around 25.3% in ThyssenKrupp before the steelmaker carried out a capital increase on Monday.

Several people familiar with the share placement had told The Wall Street Journal that failure to participate would dilute the foundation's stake to around 23%.

That would mean the foundation has lost its blocking minority, which effectively equates to a veto right in the company's supervisory board on important corporate decisions.

Meanwhile, Swedish activist shareholder Cevian Capital, which increased its stake in ThyssenKrupp to around 6.1% over the past few months, has invested more money in new shares, the people said.

Cevian purchased a significant part of the shares on offer, but less than half of the entire placement volume, one of the people said.

ThyssenKrupp Tuesday said it raised 882.3 million ($1.2 billion) in gross proceeds by issuing 51.5 million new shares to institutional investors. The company plans to use the proceeds to reduce debt and bolster its equity base.

Madeleine Nissen contributed to this article

Write to Jan Hromadko at jan.hromadko@wsj.com and Hendrik Varnholt at hendrik.varnholt@wsj.com

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Financials (€)
Sales 2019 32 778 M
EBIT 2019 1 780 M
Net income 2019 928 M
Debt 2019 3 309 M
Yield 2019 1,57%
P/E ratio 2019 11,87
P/E ratio 2020 10,53
EV / Sales 2019 0,40x
EV / Sales 2020 0,37x
Capitalization 9 911 M
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Technical analysis trends THYSSENKRUPP
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 22,6 €
Spread / Average Target 42%
EPS Revisions
Managers
NameTitle
Guido Kerkhoff Chief Executive & Financial Officer
Bernhard Pellens Chairman
Martin Holz Chief Information Officer
Wilhelm Segerath Member-Supervisory Board
Susanne Herberger Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
THYSSENKRUPP-34.26%11 288
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