Thyssenkrupp targets October 28 for listing of materials trading unit, sources say

FRANKFURT/DUESSELDORF, Oct 5 (Reuters) - Thyssenkrupp is targeting October 28 for the separate listing of its materials trading division tk accelis on the German stock exchange, according to two people familiar with the matter.

The spin-off of 49% of tk accelis marks the conglomerate's latest step to simplify its structure and turn into a slim holding company owning substantial stakes in its operating divisions.

• tk accelis could reach €3.6 billion ($4.02 billion) enterprise value, according to Jefferies analysts

• Thyssenkrupp previously indicated that a listing could happen at the end of October

• tk accelis employs around 15,500 people, is active in 30 countries and had sales of €11.4 billion in the 2024/2025 fiscal year

• The business targets an adjusted margin for earnings before interest, tax, depreciation and amortisation of 4% to 5%, compared with 2% during 2024/2025

• Thyssenkrupp declined to comment on the date, saying only that the listing was planned to take place by the end of 2026

($1 = 0.8947 euros)

(Reporting by Christoph Steitz and Tom Kaeckenhoff, editing by Emanuele Berro)