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Thyssenkrupp to sell minority stakes in three divisions

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Move continues simplification of sprawling structure

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Shares up 8.3%

(Adds union response in paragraph 9)

By Tom Käckenhoff

DUESSELDORF, May 26 (Reuters) - Thyssenkrupp

is planning to sell minority stakes in its automotive, materials

trading and green technologies divisions in the coming years, it

said on Monday, in the latest restructuring move by the German

conglomerate.

The move is aimed at further simplifying the group's

sprawling set-up, which covers submarines, steel and car parts

among other industrial goods, and continues a process initiated

years ago with the sale of most of its elevator division.

"Such a step will enable us to leverage the full value

creation potential of the businesses and use their independence

in a targeted way for investments, market opportunities, and

further growth," Thyssenkrupp CEO Miguel Lopez said.

Thyssenkrupp will open up the three divisions to external

ownership but remain a majority owner in each of the businesses

in any future set-up, similar to former hydrogen unit

Thyssenkrupp Nucera that was listed in 2023.

The Automotive Technology and Materials Services units will

be prepared for the capital market, Thyssenkrupp said, adding

Decarbon Technologies, which bundles the firm's units focused on

CO2 reduction, will also become independent.

Thyssenkrupp said the aim was to become a holding company

with shareholdings in independent business areas.

Its shares were 8.3% higher at 1511 GMT.

Thyssenkrupp is currently in the process of spinning off its

warship unit in 2025 while its steel division is planned to

become a 50-50 joint venture with Czech billionaire Daniel

Kretinsky.

The company's labour representatives said that while they

were not generally opposed to any restructuring, they demanded

that compulsory layoffs be ruled out.

"We reject the idea of slicing up the group and gradually

floating it on the stock exchange - without a vision for the

future with prospects for employees and locations in all areas,"

said Juergen Kerner, IG Metall board member and deputy chairman

of Thyssenkrupp's supervisory board.