Thyssenkrupp Steel has a potential buyer for its stake in Hüttenwerke Krupp Mannesmann (HKM).

The Hamburg-based investment company CE Capital Partners presented itself to the Executive Committee of the Supervisory Board and explained its concept, the "Westdeutsche Allgemeine Zeitung" quotes Supervisory Board Chairman Detlef Wetzel. "Thyssenkrupp Steel is very interested in finding a buyer for HKM," Wetzel told the newspaper.

A Thyssenkrupp spokesman confirmed on Friday that the Group had been approached by a potential buyer for HKM. "A possible sales process is now being carefully examined in close consultation among the shareholders with an open mind and - in particular with regard to the responsibility for the workforce."

Thyssenkrupp Steel holds a 50 percent stake in Duisburg-based HKM. Other shareholders are Salzgitter and the French company Vallourec. The steelworks employ around 3000 people.

(Report by Chris Steitz, written by Sabine Wollrab, edited by Thomas Seythal. If you have any queries, please contact our editorial team at berlin.newsroom@thomsonreuters.com)