Jindal Steel Eyes Thyssenkrupp's German Unit Acquisition

Jindal Steel International made a public statement that it began negotiations with Thyssenkrupp AG of Germany to buy the latter’s steel division, Thyssenkrupp Steel Europe (TKSE). The Jindal Group headed by Naveen Jindal already delivered a non-binding proposal for the separation.

Misra Narendra, Director of Jindal European Operations, pointed out the commitment of the firm towards reconstruction in a sustainable manner. “We surely see the bright future of clean steel production in Germany as well as Europe. Our target is to not only maintain but also bring about the revival of the industrial legacy of the last two hundred years of Thyssenkrupp and then to lead it to be the biggest low-emission steel producer with the least integration in Europe,” he added.

Thyssenkrupp stated that their Executive Board will consider the bid thoroughly with special emphasis on financial viability, assurance of jobs, and the process of green transformation. The German manufacturer has been downscaling its traditional conglomerate pattern stepwise while the steel segment has been suffering from skyrocketing energy rates, depressed global prices, and escalating borrowing costs.

Also Read: Tata Power-DDL Offers 24-Hour 'Tatkal' Festive Power Connections

In fact, Thyssenkrupp parted with a 20% share in TKSE sold to Czech billionaire Daniel Kretinsky last year and plans for forming a 50-50 joint venture in the future were set up. Jindal’s proposal aims to facilitate the transition to low-emission steelmaking by finishing off the DRI project in Duisburg and adding new electric arc furnace capacity with the support of a financial commitment of over €2 billion.

The reported revenue of Jindal Steel, which is a part of the family-owned Naveen Jindal group, was €12 billion in FY2025. The company had low net leverage of €1.2 billion and made a 22% EBITDA margin of €2.64 billion (approximately) which was very strong.