Negotiations between Germany’s Thyssenkrupp and India’s Jindal Steel over a potential sale of Thyssenkrupp’s steel unit are facing uncertainty amid disagreements on key issues, according to media reports.
The talks concern Thyssenkrupp Steel Europe, Germany’s largest steel producer. Discussions between the two companies are continuing, though sources indicate the deal could still fall apart if the parties fail to reach agreement on outstanding terms.
Thyssenkrupp first confirmed in September last year that it had entered negotiations with the family-owned Indian steel group regarding a potential investment in its steel division.
The company has been seeking a long-term solution for the unit as it faces structural challenges including weak demand, high energy costs and increasing imports from Asia. Thyssenkrupp is also implementing a restructuring program for its steel operations, which includes cost reductions and job cuts.
Thyssenkrupp AG is a German industrial group based in Essen, operating across materials services, steel production, automotive technology, decarbonization solutions and naval systems.
Jindal Steel Ltd. is a major Indian steel, mining, and infrastructure company operating integrated plants in Angul, Raigarh, and Patratu, producing a broad range of products including sponge iron, rebars, wire rod, plates, HRC, beams, sections, and rails, including head-hardened rails.
