Details
📩 Non-binding offer: Jindal Steel International has submitted an initial bid for Thyssenkrupp Steel Europe. The board will focus on financial viability, job guarantees, and the decarbonization roadmap.
🔍 Quick start: The due diligence process is set to begin soon, with a visit from the Jindal family already planned in Germany.
💶 Cash for green furnaces: Jindal announced more than 2 billion euros in investments for new electric arc furnaces and plans to push the transformation at the Duisburg site.
🤝 Labor on board: IG Metall welcomed the move and signaled it would take a constructive role in talks. Thyssenkrupp shares rose significantly on the news.
🧩 Blast furnace poker: At the same time, Daniel Křetínský’s EP Group is negotiating an increase in its current 20% stake. Jindal’s interest now gives Thyssenkrupp a second option.
🧯 Steel under pressure: The division struggles with weak demand, high energy costs, and import competition. Write-downs totaled more than 3 billion euros in 2023 and 2024. Capacity cuts and about 11,000 job losses are also on the table.
Big Picture
Indian steel meets German heritage: Jindal’s interest shows how global capital is targeting Europe’s green industrial assets. For Thyssenkrupp, the bid offers a chance to restructure a troubled division with external financing, resource access, and technology commitments.
If the deal succeeds, “Green Steel made in the Ruhrgebiet” could reach the market faster. If it fails, Thyssenkrupp remains stuck between high investment needs, political pressure, and the cyclical steel business.
The China Survival Guide for Western Businesses
Entity setup, WeChat strategy, hiring your first local team. 12+ years on the ground in Shanghai.
