Thyssenkrupp's Steel Division Faces New Turn: EP Group Exits, Jindal Steel Eyes Takeover
Thyssenkrupp's steel division faces a new turn of events. EP Group, which held a 20% stake since July 2024, will return its shares. Meanwhile, Thyssenkrupp is now considering a takeover bid from Jindal Steel International, a move welcomed by labour representatives.
The joint venture plans between Thyssenkrupp and EP Group have fallen through, leading to EP Group's decision to sell its stake. This comes after months of uncertainty surrounding the future of Thyssenkrupp's steel division, which employs around 27,000 people.
Last month, Jindal Steel International made an indicative offer to acquire Thyssenkrupp Steel Europe. Thyssenkrupp has since agreed to examine this bid thoroughly. The Indian company's interest in the German steel giant could potentially save thousands of jobs, with up to 11,000 positions at risk of cuts or outsourcing.
Thyssenkrupp will now focus on discussions with Jindal Steel International regarding its takeover offer. Labour representatives, including IG Metall and the works council, have welcomed this development, hoping it will secure jobs and the future of the steel division.
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