Reuters reported that ThyssenKrupp AG will delay the publication of its 2012 financial results by almost three weeks because it wants to wait for the European Commission's review on its sale of stainless steel unit Inoxum,

ThyssenKrupp will publish its annual results on December 11th 2012as against previous of November 22nd 2012.

Outokumpu Oyi announced in January that it would buy Inoxum for EUR 2.7 billion, but the EU Commission said approval for the proposed acquisition required Outokumpu to divest a portion of the combined operations of Inoxum and Outokumpu. Outokumpu said last week that it is submitting a new proposal to the European Commission for its intended acquisition of Inoxum. The Finnish steel company is proposing a sale of Inoxum's plant in Terni, Italy, rather than its Swedish melting and coil operations it was offering to sell to win regulatory approval of the acquisition.

The commission's review process is expected to continue until Nov. 16 and Outokumpu hopes to finalize the Inoxum sale by the end of the year.

Inoxum includes ThyssenKrupp's stainless steel unit in Calvert.

Source - Reuters

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