Thyssenkrupp Plans to Become Holding Company of Independent Businesses
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Thyssenkrupp plans to make all of its divisions independent and open to outside investment, a major overhaul that aims to turn the German industrial group into a holding company after more than two centuries as a manufacturer. The plan marks the latest attempt by Thyssenkrupp, which traces its roots back to industrial-revolution Germany, to reinvent itself. Thyssenkrupp in 2017 planned to combine its steel business with the European unit of India’s Tata Steel but the deal was blocked by European Union antitrust regulators in 2019.