Thyssenkrupp and Jindal Steel No Longer Merging
Europe – The German Thyssenkrupp Group announced on Saturday that it has suspended negotiations with Jindal Steel International regarding the sale of its steel division, TKSE.
According to four informed sources cited by Reuters, talks—initiated in September last year and reported to have started in March this year—may have been halted due to disagreements between the two parties over pension commitments, investments, and energy costs.
Last year, Jindal Steel International had issued a preliminary acquisition offer for Thyssenkrupp Steel Europe (TKSE), leading to several months of due diligence and negotiations over the purchase of Europe’s second-largest steelmaker.
The German steel group stated in a statement: "Over recent months, the initial assumptions and conditions surrounding Thyssenkrupp Steel’s potential divestment have changed significantly." The statement further noted that the decision to suspend negotiations was made jointly by both parties.
The EU’s Lifeline
Over the past few months, the European Union has introduced a series of measures aimed at better protecting the European steel industry from the impact of low-priced Asian imports—offering a ray of hope for the sector after years of plant closures and job losses.
Analysts suggest that, given the rise in steel prices across the continent, the industry is poised for a rebound, with Q1 2026 potentially marking a turning point.
Narendra Misra, head of Jindal’s European operations, said despite the pause in talks, both sides remain “closely connected by friendship and a shared goal: advancing low-carbon steel production in Europe.”
Thyssenkrupp stated it will continue progressing with the restructuring of TKSE and reaffirmed its medium-term objective: operating the business independently while ultimately retaining a minority stake. On Saturday, Jürgen Körner, vice-chair of IG Metall and a member of Thyssenkrupp’s supervisory board, urged management to initiate talks promptly to establish an independent structure for TKSE.
Source: rfi
Original: toutiao.com/article/1864120670153995/
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