ThyssenKrupp $TKA (-1.72%) has issued a positive going concern forecast for the Steel division based on an IDW S11 report. steel division which enables a financing commitment from the parent company.

This secures the division's liquidity for the coming 12 to 24 months.

CEO Miguel Lopez plans to transform the steel division into a 50:50-joint venture with the holding company of the Czech billionaire Daniel Kretinsky.

Although the completion of the expert opinion was delayed, the results now form the basis for a further investigation, which should be completed by 2024.

This marks the start of important steps for the strategic realignment of the steel division.