EQS-Adhoc: voestalpine AG: voestalpine in negotiations to sell majority stake in voestalpine Texas

EQS-Ad-hoc: voestalpine AG / Key word(s): Disposal
voestalpine AG: voestalpine in negotiations to sell majority stake in
voestalpine Texas

10-Apr-2022 / 21:10 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS – a service of EQS Group
AG.
The issuer is solely responsible for the content of this announcement.

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In recent months, voestalpine has been conducting an open-ended market
sounding to stabilize the business model of its direct reduction plant in
Corpus Christi, Texas. Since voestalpine only needs part of the hot
briquetted iron (HBI) production capacities there for its own use, it has
also examined the establishment of a strategic partnership in the form of
an investment concept as one option in this context.
As a result of this examination, voestalpine is currently in negotiations
to sell 80% of its shares in voestalpine Texas. Part of voestalpine’s
further participation is to be an agreement on the long-term securing of
the HBI volume required in the future for the first decarbonisation step
at the sites in Linz and Donawitz. The negotiations are at an advanced
stage. Depending on the outcome of the negotiations, a successful
conclusion of the sales project may lead to an accounting profit, shown
under discontinued operations, as well as a significant reduction in
voestalpine’s net financial debt. voestalpine Texas Holding is expected to
be reported as a discontinued operation in the 2021/22 financial
statements in accordance with IFRS 5.

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10-Apr-2022 CET/CEST News transmitted by EQS Group AG. www.eqs.com

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Language: English
Company: voestalpine AG
voestalpine-Straße 1
4020 Linz
Austria
Phone: +43 50304/15-9949
Fax: +43 50304/55-5581
E-mail: IR@voestalpine.com
Internet: www.voestalpine.com
ISIN: AT0000937503
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1324559

 
End of Announcement EQS News Service

1324559  10-Apr-2022 CET/CEST