Thyssenkrupp to split into two
Germany's Thyssenkrupp will split into two companies, one focused on capital goods and the other on materials. The decision gives in to years of investors' pressure as the company undergoes its biggest overhaul since the merger of Thyssen and Krupp 20 years ago. The group has said that it will spin off its elevators, car parts and plant engineering businesses to shareholders. Thyssenkrupp Materials will hold the remaining assets and initially retain a minority stake. The plans are a major victory for activist shareholders Cevian and Elliott, which have demanded changes to improve the group's operational performance, pointing to its overly-complex conglomerate structure.