Finance
Thyssenkrupp in Talks for Over 5 Billion Euros in Steel Aid
- Steel unit needs about 2 billion euros for pandemic fallout
- Germany ready to offer funds for transition to green steel
Photographer: Krisztian Bocsi/Bloomberg
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Thyssenkrupp AG is in talks with the German government over an aid package for its struggling steel unit worth at least 5 billion euros ($5.9 billion), well exceeding the group’s current market value in a key push to secure its survival.
Chancellor Angela Merkel’s government has signaled a willingness to provide financial support to shore up the unit and ensure future domestic production of an environmentally friendly form of steel, according to people familiar with the matter.