Emirates Steel Is Said to Walk Away From Thyssenkrupp Steel Deal
This article is for subscribers only.
Emirates Steel Arkan is walking away from a potential investment in Thyssenkrupp AG’s steel arm, dealing a fresh blow to the German conglomerate’s plans to offload the struggling operations, people with knowledge of the matter said.
The state-backed Abu Dhabi company has stopped actively pursuing a deal due to concerns over pension liabilities and other complexities of the business, the people said. Emirates Steel was considered the most serious contender to buy a stake in the Thyssenkrupp unit.