Thyssenkrupp AG has confirmed that it is in “intensive negotiations” with Jindal Steel International, a subsidiary of India’s Jindal Steel Limited, over the potential sale of Thyssenkrupp’s steelmaking division, according to a Reuters report.
Thyssenkrupp CEO Miguel López said the talks are progressing “very intensively” and that the outcome could be decided within the next few months. He noted that the company is focused on restructuring its steel operations and carefully assessing Jindal’s offer, which includes significant investments in green steel initiatives in Germany.
Last month, Jindal Steel International submitted a non-binding bid for Thyssenkrupp Steel Europe, proposing to complete the direct reduction iron (DRI) project in Duisburg and build new electric arc furnace (EAF) capacity. The plan involves an investment exceeding €2 billion, aimed at decarbonising steel production and establishing a strategic foothold in Europe.
Thyssenkrupp’s previous attempts to sell or restructure its steel division have faced hurdles due to pension obligations and high operating costs. If successful, this transaction would represent a major step in Jindal’s European expansion and could reshape the regional steel landscape.
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