United Arab Emirates-based steel producer Emirates Steel Arkan (ESA) is considering pulling back from investment in German steelmaker Thyssenkrupp’s steel unit in Duisburg and acquiring a minority stake in the unit, according to media reports.
The company’s handbrake turn is said to be due to concerns over pension liabilities and other complexities of the unit.
Meanwhile, Indian steel producer JSW Steel and Luxembourg-based private equity company CVC Capital Partners, which were also said to be interested in Thyssenkrupp’s steel unit previously, are reported to be losing interest also.