Coal Tycoon Tykac Buys European ‘Green Steel’ Assets From Celsa

Czech coal billionaire Pavel Tykac is expanding into a more environmentally-friendly industry with an acquisition of steel-recycling companies in Europe.

Sev.en Global Investments AS has agreed to buy 100% in Celsa Steel UK and Celsa Nordic, according to a statement from the Prague-based company managing Tykac’s assets abroad. While it didn’t disclose the price of the transaction, Sev.en GI said it would bring onboard more than 2,700 employees.

Having bought coal power stations and mines in the US, Australia and Vietnam, as well as gas-fired plants in the UK, Tykac is diversifying his business with a push into scrap-metal ...