In a bid to combine their European assets into a global steel giant, Tata Steel and Thyssenkrupp are reportedly nearing a 15 billion euro deal this week. The final details are progressing well and a compromise has been reached on closing a valuation gap between the businesses.
The combination of ThyssenKrupp's and Tata Steel’s European steel assets will create the continent’s second-largest steelmaker after ArcelorMittal with €15 billion in combined sales.
The joint venture was originally planned to be signed in early 2018 but was delayed after ThyssenKrupp's steel business performed much better than Tata Steel’s, requiring a reassessment of the deal.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
