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Jindal, thyssenkrupp Halt Sale Talks
05/03/2026 - thyssenkrupp AG and Jindal International Steel have called off discussions on a sale of thyssenkrupp’s steel business to Jindal, saying that the conditions that underpinned the initial talks have changed, and for the better.
In a statement, thyssenkrupp said its outlook has improved significantly in recent months, pointing to a recently signed collective restructuring agreement with the IG Metall union and the adoption of favorable public policy.
"We have always said: Steel is the future. A sustainable business is a valuable business," said thyssenkrupp AG chief executive officer Miguel López.
"Now that we have reached an agreement in principle within our own company, with labor unions, and with policymakers in Germany and Europe, the conditions for the profitable continuation of thyssenkrupp Steel is better than they have been in a long time.”
thyssenkrupp said the decision comes as policymakers take steps to preserve European steelmaking, committing to protecting it from global overcapacity and accelerating the transition to climate-friendly steel production.
Examples, it said, include tighter import quotas and greater penalties for exceeding them, the introduction of a Carbon Border Adjustment Mechanism (CBAM), and the adoption of the EU’s Steel Action Plan.
However, thyssenkrupp said its overall objective remains the same: to establish thyssenkrupp Steel as a stand-alone entity.
“The more successfully thyssenkrupp Steel Europe implements the realignment that has been set in motion, the more attractive this business will become for the capital market and investors,” López said. “We expect German and European policymakers to reliably deliver on their specific commitments to ensure resilience," he added.
"We have always said: Steel is the future. A sustainable business is a valuable business," said thyssenkrupp AG chief executive officer Miguel López.
"Now that we have reached an agreement in principle within our own company, with labor unions, and with policymakers in Germany and Europe, the conditions for the profitable continuation of thyssenkrupp Steel is better than they have been in a long time.”
thyssenkrupp said the decision comes as policymakers take steps to preserve European steelmaking, committing to protecting it from global overcapacity and accelerating the transition to climate-friendly steel production.
Examples, it said, include tighter import quotas and greater penalties for exceeding them, the introduction of a Carbon Border Adjustment Mechanism (CBAM), and the adoption of the EU’s Steel Action Plan.
However, thyssenkrupp said its overall objective remains the same: to establish thyssenkrupp Steel as a stand-alone entity.
“The more successfully thyssenkrupp Steel Europe implements the realignment that has been set in motion, the more attractive this business will become for the capital market and investors,” López said. “We expect German and European policymakers to reliably deliver on their specific commitments to ensure resilience," he added.
