Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.
“Cevian is in discussions for a seat on the board,” the spokesman said.
However, he refuted rumours that the company was aiming to acquire two seats on the board and denied reports that talks would be completed on or before the steel producer’s annual general meeting to be held on January 17.
“It won’t happen imminently, these are long processes,” the spokesman said.
The industrial investor – based in the UK, Switzerland and Sweden – currently owns 10.96% of ThyssenKrupp and has previously said it would not “exclude” the possibility of increasing its stake.
Such a move would not be unprecedented, the spokesman said, as “with [German construction group] Billfinger, Cevian gradually increased its share [to becoming the biggest shareholder at 18.87%]”.
ThyssenKrupp’s majority shareholder, the Alfried Krupp von Bohlen & Halbach Foundation, saw its influence weaken to around 23% at the December 2 capital increase.
Investment group Cevian Capital is in talks to obtain a seat on the supervisory board of German steel company ThyssenKrupp, a spokesman told Steel First on Thursday January 9.