Steel company ThyssenKrupp plans to divide the group into two independent listed companies. It proposed the company's board during an extraordinary meeting on Sunday.
Capital goods and material stores will in the future be managed as independent listed companies with direct access to capital markets.
The Board is convinced that this new structure will benefit companies' development. Both companies continue to use the name ThyssenKrupp.
Guido Kerkhoff, Chairman of Thyssen Group, said in a press release:
"In recent weeks, a number of different strategic alternatives for Thyssen Group have been discussed publicly and often exaggerated. [...] We now propose a solution that not only creates value for our shareholders but also significantly improves our development prospects for our companies.