Thyssenkrupp: joint venture agreement with Tata Steel
(CercleFinance.com) - Thyssenkrupp announces the signing of a definitive agreement with Tata Steel to merge their respective European steel operations into a 50-50 joint venture, in accordance with the MoU that was signed in September 2017.
“The proposed new company, to be named thyssenkrupp Tata Steel B.V., will be positioned as a leading pan-European high quality flat steel producer,” the German industrial conglomerate said.
Subject to approvals from several jurisdictions, including those of the European Union, the deal is expected to generate approximately 400 million to 500 million euros of recurrent annual synergies, including a better use of assets.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
“The proposed new company, to be named thyssenkrupp Tata Steel B.V., will be positioned as a leading pan-European high quality flat steel producer,” the German industrial conglomerate said.
Subject to approvals from several jurisdictions, including those of the European Union, the deal is expected to generate approximately 400 million to 500 million euros of recurrent annual synergies, including a better use of assets.
Copyright (c) 2018 CercleFinance.com. All rights reserved.