Jindal Steel International, part of India’s Naveen Jindal Group, has submitted a non-binding offer to acquire Thyssenkrupp Steel Europe (TKSE), according to company and media reports.
The potential deal is estimated at EUR 3-4 bln (USD 3.5-4.7 bln) and includes commitments of more than EUR 2 bln (USD 2.3 bln) to complete TKSE’s ongoing direct reduction iron (DRI) project in Duisburg and add new electric arc furnace (EAF) capacity.
Jindal said its proposal combines financial strength, global steel expertise, and a forward-looking vision for decarbonisation. The plan would secure steel production in Germany, preserve Thyssenkrupp’s 200-year industrial legacy, and position it as Europe’s largest low-emission steelmaker. The company also indicated readiness to take on TKSE’s pension liabilities, a long-standing hurdle to divestment.
Jindal’s concept integrates its global mine-to-metal supply chain. Iron ore from its Cameroon mines and hydrogen-ready DRI capacity in Oman, due online in 2027, would support Duisburg’s green steel transition, the company said.
Thyssenkrupp confirmed receipt of the offer, stating it would be examined carefully, particularly with regard to economic sustainability, the continuation of the green transformation and employment at our steel sites. Previous attempts to divest TKSE have struggled, despite the sale of a 20pct stake to Czech investor Daniel Kretinsky in 2023.
The Jindal group operates across India, Europe, the Middle East and Africa, and aims to raise steel output from 12.6 mln tons to 30 mln tons annually by 2030.
1 USD / 0.84 EUR
