Deals
Thyssenkrupp to Break Up German Giant in Fight for Survival
- Conglomerate plans for life after $19 billion elevator sale
- Company weighs sale of steel and submarine businesses
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Thyssenkrupp AG will shrink and focus on higher-margin businesses as the coronavirus pandemic speeds the break up of one of Germany’s last mega-conglomerates.
The company said it’s considering the sale of units that make steel and submarines as it fights for survival. Once a byword for German engineering prowess, Thyssenkrupp will be gradually split apart as Chief Executive Officer Martina Merz follows the path taken by other behemoths from Siemens AG to General Electric Co.