Core Insights - Jindal Steel International is preparing to conduct due diligence on thyssenkrupp Steel Europe, which it is considering acquiring, with a team of eight to ten executives from various departments [1][6] - The due diligence process may take up to eight months, starting with a physical assessment of thyssenkrupp's plants and products, followed by access to data centers [1][6] - Thyssenkrupp Steel Europe is one of Germany's oldest steelmakers, employing approximately 27,000 people and producing 11 million tonnes of flat steel annually [6] Company Overview - Jindal Steel International is part of the Naveen Jindal Group, which also promotes India-listed Jindal Steel [6] - The Naveen Jindal Group has steel projects in Oman and the Czech Republic, and is developing a 9-million tonne direct reduced iron (DRI) project in Cameroon, Africa [5][6] - The group operates Africa's largest coking coal mine in Mozambique [5][6] Strategic Context - Thyssenkrupp AG has been looking to divest its steel business, and Jindal Steel International's interest has led to the cancellation of a previously announced strategic partnership with the EP Corporate Group [6] - The DRI plant being built in Oman by Jindal Steel International could serve as an additional supply source for thyssenkrupp Steel [5][6]
Jindal Steel International set to kick off thyssenkrupp leg work
The Economic Timesยท2025-10-21 18:54