28 October 2026 - Linklaters is advising thyssenkrupp AG comprehensively on the preparation and implementation of the separation of its Materials Services segment (tk accelis). tk accelis is a leading global materials distributor and integrated supply chain service provider, combining traditional trading in raw materials and materials with customised material processing and data-driven supply chain solutions.

In a first step, thyssenkrupp AG spun off a 49% minority stake in tk accelis to tk accelis Group AG & Co. KGaA, which was subsequently listed on the stock exchange. thyssenkrupp AG retains a 51% majority stake in tk accelis Group AG & Co. KGaA. thyssenkrupp AG shareholders received one limited partnership share of the new tk accelis Group AG & Co. KGaA for every 20 thyssenkrupp AG shares and, as a result of the spin-off, hold a total of 49% of tk accelis Group AG & Co. KGaA.

The extraordinary general meeting of thyssenkrupp AG approved the spin-off on 7 August 2026 with a majority of 99.99%. tk accelis Group AG & Co. KGaA was listed in the Prime Standard of the Frankfurt Stock Exchange on 28 October 2026.

The separation of tk accelis marks another key step in the thyssenkrupp group's strategic realignment ACES 2030, following the separation of the marine business TKMS last year. In the medium term, thyssenkrupp AG is to become a financial holding company that generally combines majority stakes in strong, independent companies under its roof.

Linklaters advised thyssenkrupp AG and tk accelis comprehensively on the transaction, in particular on corporate, capital markets, tax and investment control law aspects of the preparation and implementation of the internal restructuring, the spin-off and the listing. Linklaters also advised tk accelis on the preparation and conclusion of a stand-alone financing in the form of an asset-based lending facility secured by assets in various countries (including the USA, Canada, Mexico, Hungary, Poland, the Czech Republic, Belgium, England, Ireland, Northern Ireland, Spain, Portugal, the Netherlands and Germany).

Linklaters has advised thyssenkrupp on strategic transactions and projects for many years, including the separation of the marine business TKMS, the sale of the elevator division, the strategic partnership with EP Corporate Group regarding its steel business and the conversion and IPO of the hydrogen subsidiary thyssenkrupp nucera.

Advisors thyssenkrupp AG and tk accelis
Linklaters: Federführung: Dr. Ralph Wollburg (Chairman Global Corporate and Co-Head of Global M&A), Dr. Andreas Zenner (Corporate/M&A, beide Düsseldorf), Dr. Alexander Schlee (alle Partner, Capital Markets, Frankfurt), Dr. Julius Raapke (Counsel, Corporate/M&A, Düsseldorf)
Kernteam: Dr. Julian Böhmer (Partner, Tax, Düsseldorf), Barbara Lauer (Partnerin, Capital Markets, Frankfurt), Marco Huchzermeier (Counsel, Corporate/M&A, Düsseldorf), Dr. Geesa de Vries (Counsel, Corporate/M&A, Düsseldorf), Dr. Tosan Kraneis (Managing Associate, Capital Markets, Frankfurt), Dr. Max Fuss (Managing Associate, Tax, Düsseldorf), Maximilian Bunte (Associate, Corporate/M&A, Düsseldorf), Anna Löher (Associate, Corporate/M&A, Düsseldorf)
Weitere: Christoph Barth (Partner, Antitrust & Foreign Investment, Düsseldorf), Dr. Michael Leicht (Partner, TMT/IP, Frankfurt), Kevin Roy (Counsel, Corporate/M&A, Berlin), Dr. Benedikt Schewe (Managing Associate, Tax), Associates Dr. Yannick Klecker (Tax), Christoph Dornbach, Dr. Philipp Roebers, Dr. André Landwehr, Dr. Alparslan Aksoylu (alle Düsseldorf), Alexander Gatlin, Alexander Auster, Marianna Troia (alle Corporate/M&A, Frankfurt), Tim Westenberger (Capital Markets, Frankfurt), Dr. Alexander Fuchs, Julia Funke (beide Antitrust & Foreign Investment, Düsseldorf), Martin Reschke (Banking, Frankfurt)

This text was automatically translated from the German original.