Salzgitter says it has no plans to exit Aurubis
Credit: Aurubis
German steelmaker Salzgitter said on Monday it was not planning to exit its stake in copper producer Aurubis.
Aurubis is a valuable part of Salzgitter’s business and brings “valuable EBITDA to the table”, chief financial officer Birgit Potrafki said.
Salzgitter, which owns 29.99% of Aurubis, said in October it would sell 500 million euros ($583 million) worth of bonds that could be exchanged for 7.6% of Aurubis’ stock, quenching simmering takeover speculation.
($1 = 0.8575 euros)
(By Emanuele Berro and Bernadette Hogg)
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