Jindal steel deal talks are 'intensive' and set to continue for months: Thyssenkrupp

The CEO of Thyssenkrupp said on Monday that talks with Jindal Steel International over the Indian group’s takeover interest in Thyssenkrupp’s steel business were intensive and constructive but a deal would likely be a matter of months.

"Talks are ongoing – very intensively,” CEO Miguel Lopez told Reuters at the Frankfurt stock exchange, attending the stock market debut of the TKMS naval vessels unit.

"We’ll see what outcome we’ll have over the next few months,” he added.

Last month, Thyssenkrupp said it has received a non-binding bid from India’s Jindal Steel for its steel division, Thyssenkrupp Steel Europe (TKSE), without disclosing further details.

The company stated it would closely examine the offer, with particular attention to economic sustainability, the continuation of its green transformation, and the protection of employment at its steel sites.

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