Arkan Building Materials Company (ARKAN) PJSC (ADX:EMSTEEL) may submit a formal offer to acquire a stake in the steel unit of German industrial group, Bloomberg reported on April 26, 2023, citing unnamed sources. Reportedly, Emirates Steel Arkan is discussing the option to buy a minority stake as part of a collaboration. Under the potential partnership, the Abu Dhabi-based company would make energy-intensive products in the United Arab Emirates, after which Thyssenkrupp would give them the final touch in Germany, turning them into finished products for the automotive industry.
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Mar. 06 | Emsteel Building Materials Posts Higher FY23 Profit; Revenue Down | MT |
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4.836 EUR | -0.53% | +2.18% | 3.24B | ||
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- Emirates Steel Arkan Reportedly Considers Investing in Thyssenkrupp's Steel Unit