UK-based Liberty Steel Group, part of the GFG Alliance, has confirmed that it will have access to the books of German-based Thyssenkrupp’s steel unit for due dilligence.
“Thyssenkrupp and Liberty Steel Group have agreed to enter a further process phase. Liberty Steel will shortly begin a detailed due diligence and thus gain insight into key business data of Thyssenkrupp’s steel business,” Liberty Steel said in an e-mailed statement to SteelOrbis.
In October, Liberty steel made an offer to acquire Thyssenkrupp’s steel unit and there were reports that Liberty Steel could have access to the books of the unit, as SteelOrbis previously reported.