Germany’s second-largest steel producer, Salzgitter AG, announced that its major shareholder, GP Gunter Papenburg Aktiengesellschaft, in collaboration with TSR Recycling GmbH & Co. KG, is considering submitting a voluntary public takeover bid to acquire additional shares of the company.
The potential offer is contingent on the GP Gunter Papenburg-TSR Recycling consortium achieving a combined shareholding of at least 45pct plus one share (including the shares already held by GP Gunter Papenburg) by the end of the acceptance period, according to Salzgitter’s statement.
GP Gunter Papenburg said in a statement that the goal is to increase its influence over Salzgitter and support its transformation into green steel through the expanded shareholding. The company also emphasized that the State of Lower Saxony remains a long-term shareholder of Salzgitter.
Salzgitter’s largest shareholder is the State of Lower Saxony, holding 26.5pct, followed by GP Gunter Papenburg with 25.1pct. The remaining shares are owned by retail, institutional, and other shareholders.
With a crude steel capacity of approximately 9 mln tons per year, the Salzgitter Group is one of Europe’s leading steel companies. Its global network of subsidiaries and affiliates ensures a broad international presence. The group is organized into four business units: steel production, steel processing, trading, and technology, with Salzgitter AG serving as the holding company.
