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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  SSAB    SSAB A   SE0000171100

SSAB

(SSAB A)
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Liberty Steel to start due diligence on Thyssenkrupp steel business

12/02/2020 | 10:52am EST
FILE PHOTO: Thyssenkrupp's logo is seen outside elevator test tower in Rottweil

LONDON (Reuters) - Liberty Steel, which last month announced a non-binding indicative offer for Thyssenkrupp Steel Europe, will soon start looking into its financial records, it said on Wednesday.

"Liberty Steel will shortly begin a detailed due diligence and thus gain insight into key business data of Thyssenkrupp's steel business," Liberty said in a statement.

Last week, sources told Reuters that Thyssenkrupp was likely to give Britain's Liberty Steel, headed by metals tycoon Sanjeev Gupta, access to the books of its steel unit.

Gupta's hand has been strengthened due to consolidation talks between Sweden's SSAB and Tata Steel that could result in a deal and potentially leave Liberty Steel as the sole bidder for Thyssenkrupp Steel Europe.

Thyssenkrupp, which confirmed it had agreed to open its books to Liberty, has said it aims to make a decision on whether to sell or keep its steel unit by March.

Deutsche Bank estimates a Liberty Steel-Thyssenkrupp deal could yield synergies of 200-300 million euros and regulatory hurdles are lower than in potential transactions the German group could pursue with Salzgitter or Tata Steel.

"Both companies would complement each other via becoming a stronger player in the Western and Central European markets which particularly Liberty needs to build exposure to increase access to (automotive) clients and realise its decarbonisation strategy," the bank said in a note last week.

A successful bid would cut Liberty Steel's reliance on up to 3 million tonnes of slab and hot rolled coil it needs to buy each year to feed its manufacturing lines. Thyssenkrupp's Duisburg plant, in turn, would be better utilised.

(Reporting by Eric Onstad in London and Christoph Steitz in Frankfurt; Editing by Jan Harvey and David Evans)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE BANK AG -2.29% 8.57 Delayed Quote.-4.24%
SALZGITTER AG -2.36% 21.11 Delayed Quote.-2.72%
SSAB -2.25% 34.33 Delayed Quote.17.17%
TATA STEEL BSL LIMITED -0.37% 40.8 End-of-day quote.2.51%
TATA STEEL LIMITED 0.80% 652.1 End-of-day quote.1.33%
THYSSENKRUPP AG -4.18% 9.164 Delayed Quote.12.80%
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Financials
Sales 2020 64 542 M 7 707 M 7 707 M
Net income 2020 -986 M -118 M -118 M
Net Debt 2020 11 341 M 1 354 M 1 354 M
P/E ratio 2020 -37,8x
Yield 2020 1,13%
Capitalization 32 299 M 3 868 M 3 857 M
EV / Sales 2020 0,68x
EV / Sales 2021 0,56x
Nbr of Employees 13 617
Free-Float 81,1%
Chart SSAB
Duration : Period :
SSAB Technical Analysis Chart | MarketScreener
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Technical analysis trends SSAB
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 35,35 SEK
Last Close Price 34,33 SEK
Spread / Highest target 22,3%
Spread / Average Target 2,96%
Spread / Lowest Target -21,4%
EPS Revisions
Managers and Directors
NameTitle
Erik Martin Lindqvist President, Chief Executive Officer & Director
Bengt David Harry Kjell Chairman
Håkan Victor Folin Chief Financial Officer & Executive Vice President
Martin Pei Chief Technology Officer & Executive VP
Eva Petursson Executive Vice President-Research & Innovation
Sector and Competitors
1st jan.Capitalization (M$)
SSAB17.17%3 868
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POSCO-2.76%18 308
NUCOR-3.50%15 942
NIPPON STEEL CORPORATION-1.69%11 125
TATA STEEL LIMITED1.33%10 308