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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 | 07:06am EDT

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 35 582 M
EBIT 2019 1 006 M
Net income 2019 696 M
Debt 2019 4 901 M
Yield 2019 1,33%
P/E ratio 2019 12,03
P/E ratio 2020 9,08
EV / Sales 2019 0,36x
EV / Sales 2020 0,33x
Capitalization 7 785 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 17
Average target price 15,9 €
Spread / Average Target 27%
EPS Revisions
Managers
NameTitle
Guido Kerkhoff Chief Executive & Financial Officer
Martina Merz Chairman-Supervisory Board
Martin Holz Chief Information Officer
Bernhard Pellens Member-Supervisory Board
Wilhelm Segerath Member-Supervisory Board
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1st jan.Capitalization (M$)
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