Reuters: ThyssenKrupp sweetens deal for Alabama plant

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

ThyssenKrupp (TYEKY, TYEKF) agrees to compensate buyers of its Alabama steel plant for any underperformance in the next few years to seal a long-awaited deal to be outlined later today, Reuters reports.

The buyers, a consortium of ArcelorMittal (MT) and Nippon Steel, reportedly will pay ~$1.5B for the steel finishing plant.

Analysts say it isn't surprising that ThyssenKrupp offered concessions to clinch the sale but they would have to see the details to judge if it was a good deal; in any case, it paves the way for a much-needed capital increase at Thyssen, with several bankers saying they expected such a move as early as Monday evening.