On Wednesday, German multinational conglomerate corporation ThyssenKrupp said that the stake Sweden-based activist fund Cevian is now at 5.2%. This was higher than Cevian's original ownership of less than 3% prior to the announcement. A spokeswoman from Cevian also said that the hedge fund investor may increase its holding but will not make any plans to take over the struggling conglomerate.

The German steelmaker, which is the combination of Thyssen AG and Krupp back in a 1999 merger, has operational headquarters in Essen and is composed of 670 companies globally. Its elevators manufacturing plant in Spain and stainless steel production in Italy make up 9% of its sales for ThyssenKrupp.

ThyssenKrupp had recently breached its loan covenants. It has since than received a waiver from its creditors. When asked about Cevian's increased holding in ThyssenKrupp, Chief Executive Heinrich Hiesinger said that he was welcome to the idea of Cevian being a major shareholder of ThyssenKrupp.