Germany-based Thyssenkrupp has received a non-binding offer from Jindal Steel International, a subsidiary of the India-based Naveen Jindal Group, for its steel division. The company stated that the offer will be evaluated in terms of economic sustainability, continuation of the green transition, and preservation of employment.
Thyssenkrupp’s steel arm, Thyssenkrupp Steel Europe (TKSE), generated €10.7 billion in revenue last year. Following the news, Thyssenkrupp shares rose as much as 7.9% during the day, reaching their highest level in four and a half years, and closed the day with a 4.4% gain.
Jindal has committed to securing steel production in Germany, completing the direct reduced iron (DRI) plant in Duisburg, and installing new electric arc furnaces with investments exceeding €2 billion. The company also plans to integrate TKSE into the global “mine-to-metal” value chain.
Narendra Misra, Director of European Operations, said, “Our goal is to preserve Thyssenkrupp’s 200-year industrial heritage and transform it into Europe’s largest low-emission steel producer.” The Jindal Group reported around €12 billion in revenue and a 22% EBITDA margin in 2025.
Last year, Thyssenkrupp sold 20% of TKSE to Czech billionaire Daniel Kretinsky and had planned to sell an additional 30% to establish a partnership. However, Jindal’s new offer could change this process.
One of the key stakeholders in the process, the union IG Metall, welcomed the development. Thyssenkrupp Supervisory Board Vice Chairman Jürgen Kerner said, “Deeper discussions should begin as soon as possible.” A potential deal would not only enhance production security in Germany but also accelerate Europe’s green steel transition.
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