Overview
- Thyssenkrupp confirmed receipt of a non-binding proposal from Jindal Steel International and said a formal review is underway.
- Jindal outlined a green-steel plan that includes completing the Duisburg DRI project, adding electric-arc-furnace capacity and investing over €2 billion.
- Supply security features in the offer through Jindal’s hydrogen-ready DRI plant in Oman targeted for 2027 and iron ore from its Cameroon mines.
- No purchase price was disclosed; Thyssenkrupp shares rose as much as 7.9% intraday and closed up 4.4% in Frankfurt.
- The bid could compete with Daniel Kretinsky’s EPCG, which holds a 20% stake after earlier joint-venture talks, while job security looms large at a unit with 26,000 employees and a plan to cut 11,000 by 2030.