Jindal Steel tables offer for Thyssenkrupp Steel Europe

Indian industrial group Jindal Steel International has submitted a non-binding offer to acquire Thyssenkrupp's steel division, marking a potential turning point for Germany’s largest steelmaker. Thyssenkrupp’s management board confirmed it is currently reviewing the proposal with a focus on long-term economic viability, the continuation of the company’s green transformation strategy, and the safeguarding of approximately 26,000 jobs.

While financial details of the offer remain undisclosed, Jindal has expressed readiness to invest up to €2 billion in new hydrogen-based electric arc furnace capacity in Duisburg—considered a critical milestone on Thyssenkrupp’s decarbonisation path.

The steelworkers’ union IG Metall welcomed the interest from Jindal, noting the company’s growth track record and expertise in low-emission steel. However, union leaders are calling for swift, substantial talks to secure commitments on employment and site stability.

Political stakeholders have also weighed in. Germany’s economy ministry underlined that any buyer must not only bring capital but also align with the country’s co-determination culture and industrial decarbonisation agenda.

Thyssenkrupp has long sought a viable path for its steel division, which has faced structural losses, declining demand, and stiff import competition. Past negotiations with potential investors—including Czech billionaire Daniel Křetínský—failed to materialise into lasting partnerships.

Jindal Steel International is led by billionaire entrepreneur and politician Naveen Jindal, whose group already controls Jindal Steel & Power and recently acquired Vitkovice Steel in the Czech Republic. If successful, the Thyssenkrupp deal would mark the group’s most ambitious move in Europe to date.

A due diligence process is expected to begin shortly, with site visits by representatives of the Jindal family reportedly in preparation.

Photo: Thyssenkrupp