HALISTER1: Thyssenkrupp-Tata Venture IPO May Come Sooner: Jefferies (1)

Thyssenkrupp-Tata Venture IPO May Come Sooner: Jefferies (1)

(Bloomberg) -- Thyssenkrupp’s “end goal is clearly to eventually exit steelmaking,” analysts at Jefferies led by Seth Rosenfeld say in note on joint venture discussions with Tata Steel.
  • “With steel industry tailwinds at their back, and should the deal be structured in an attractive manner for equity investors, it is possible we see an IPO of TKA-Tata sooner than” 2-3 years
  • Thyssenkrupp price target raised to EU40/share from EU32/share previously
  • NOTE: Aug. 11, Thyssenkrupp Tata steel JV has key hurdle removed: Jefferies
To contact the reporter on this story: Tino Andresen in Dusseldorf at tandresen1@bloomberg.net To contact the editors responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net Tony Barrett

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
TATA IN (Tata Steel Ltd)
TKA GR (thyssenkrupp AG)

People
Seth Rosenfeld (Jefferies International Ltd)

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