While Europe was worrying about paying its energy bills, Daniel Kretinsky spent 2022 raking in cash that he now wants to invest in ThyssenKrupp's steel unit. The energy crisis helped the owner of Czech energy holding Energeticky Prumyslovy (EPH) post a record profit ­­of €4.6 billion ($5.09 billion) in 2022 . Reports suggest that the Czech billionaire might use those funds to buy the steel unit of Germany's industrial giant ThyssenKrupp. ThyssenKrupp has been trying to offload its steel business for some months — and it looks set for a subsidies bonanza. Edited by: Uwe HesslerWhile you're here: Every Tuesday, DW editors round up what is happening in German politics and society.

Source: Forbes July 28, 2023 11:31 UTC