Flacks Group is ready to submit a bid to acquire Thyssenkrupp’s steel business

The American investment fund Flacks Group is ready to make an offer to acquire the steel division of the German industrial group Thyssenkrupp if the current attempts to sell it fail. This was reported to Reuters by the fund’s CEO Michael Flacks.

According to him, Flacks Group’s main interest is currently focused on Italy, but the fund is interested in large steel companies. He added that if the current negotiations on the acquisition of Thyssenkrupp’s steel division fail, the company is ready to submit a bid for it.

The German concern has been negotiating with Jindal Steel International since last fall regarding the possible sale of Thyssenkrupp Steel Europe, but they have not yet resulted in a firm offer.

Flacks Group calls itself one of the leading investors in distressed assets worldwide. In December 2025, the investment fund was selected by Italy for exclusive negotiations on the sale of the steel company Acciaierie d’Italia. Michael Flacks also stated that he was interested in acquiring British Steel.

It should be recalled that in its report for the first quarter of the 2025/2026 financial year, Thyssenkrupp recorded restructuring costs for its steel business – financing large-scale job cuts – in the amount of €401 million ($477 million). As noted, the central element of the confidential negotiations with Jindal Steel International is ongoing due diligence.