Thyssenkrupp's CEO praised Jindal Steel International as the ideal partner for its Steel Europe (TKSE) unit amid ongoing due diligence, while stressing a robust Plan B exists. Talks intensify on the €3-4B potential deal, balancing green steel investments and job security.
Strategic Talks Update
Thyssenkrupp AG continues intensive negotiations with India's Jindal Steel International for the sale of TKSE, Europe's second-largest steelmaker. CEO Miguel Lopez highlighted Jindal's "ideal fit" due to its €2B+ green steel commitments, including Duisburg DRI completion and EAF expansion. Due diligence progresses, with Jindal eyeing subsidies for viability.
Key Highlights
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Ideal Partner: Jindal offers financial strength, decarbonization vision, and mine-to-metal chain via Oman/Cameroon assets.
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Deal Scope: Non-binding bid for full TKSE; valued €3-4B, focuses green transformation amid Thyssenkrupp's restructuring losses.
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Plan B Assured: CEO confirms alternatives if talks falter, prioritizing economic viability and employment.
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Union Stance: IG Metall seeks job guarantees; employees welcome potential stability.
Outlook
Deal could reshape European steel; Thyssenkrupp eyes closure amid 2026 loss forecasts from provisions.
Sources: Economic Times, Reuters, WirtschaftsWoche.