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Cevian places 6.9% stake in Thyssenkrupp

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© Reuters. FILE PHOTO: The emblem of German steelmaker ThyssenKrupp AG is seen on an escalator at Frankfurt’s most important railways station in Frankfurt, Germany, January 23, 2020. REUTERS/Wolfgang Rattay

FRANKFURT (Reuters) – Activist fund Cevian is putting a 6.9% stake in Germany’s Thyssenkrupp (DE:), Refinitiv information service IFR reported on Monday.

The providing of about 43 million shares, run by UBS, launched with a value steerage of 10.20-11.29 euros per share, which may end in proceeds of 439 million to 485 million euros ($493-$545 million), IFR mentioned.

($1 = 0.8903 euros)

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