ThyssenKrupp (TYEKY.OB, TYEKF.PK) reportedly fails to reach a deal with Brazil's SID over the...

|About: ThyssenKrupp AG ADR (TYEKY)|By:, SA News Editor

ThyssenKrupp (TYEKY.OB, TYEKF.PK) reportedly fails to reach a deal with Brazil's SID over the sale of two steel plants in the Americas, a serious blow to the steelmaker's efforts to unload unprofitable assets and shore up its balance sheet. The main sticking point appears to be the relatively new steel plant in Alabama that received a higher competing bid from ArcelorMittal (MT) and Sumitomo (NSSMY.PK).