The Czech billionaire Kretinsky joins thyssenkrupp. The supervisory board voted for a 20 percent stake in the energy company EPCG – despite protests from thousands of employees. And against the votes of the employee representatives.
The supervisory board of thyssenkrupp has voted in favor of a steel joint venture with the energy holding company of Czech billionaire Daniel Kretinsky. The company announced after a meeting of the supervisory board that the decision was made with the second voting rights of the chairman of the supervisory board against the votes of the employee representatives. The holding company EGBC is to take over 20 percent of the shares in the steel division.
In the future, EPCG’s share is to be increased to 50 percent and the steel division is to be made independent. “EPCG’s entry combines the leading materials know-how of thyssenkrupp Steel Europe with EPCG’s energy expertise,” it said. The transaction is scheduled to be completed in the current fiscal year.
protests Corporate Headquarters
Previously, thousands of thyssenkrupp employees had protested in front of the company’s headquarters in Essen. CEO Miguel Lopez pointed to the difficulties facing the steel business in the course of the green transformation and promised “constructive cooperation” with employee representatives. However: “It won’t work without cuts.”
The thyssenkrupp steel division is Germany’s largest steel company. Around 27,000 people work there.