German industrial group Thyssenkrupp is in active negotiations with India's Jindal Steel International, which has expressed interest in its steel business, Thyssenkrupp Steel Europe (TKSE).
Jindal Steel made a preliminary purchase offer last month TKSE, the second largest steel producer in Europe. Financial terms of the offer were not disclosed. Following this, Thyssenkrupp announced that it would buy 20% of TKSE from Czech billionaire Daniel Krzetinsky's EP Group and focus on negotiations with Jindal Steel. In the coming months, we will see what result we arrive at.
He noted that Thyssenkrupp is carefully assessing the Indian company's proposal to invest in a green steel plant.
Earlier, Jindal Steel said that its proposal would allow maintaining steel production in Germany, in particular, completing the construction of a Thyssenkrupp plant for the production "green" steel in Duisburg. In addition, the Indian company has promised investments worth more than 2 billion euros.
Thyssenkrupp has long been looking for an opportunity to sell its steel business. In April the company announcedabout plans to cut jobs and reduce production capacity in the division in response to difficult market conditions. Since the beginning of this year, their value has increased 2.5 times.
