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thyssenkrupp Steel Stakeholder Ends Joint Venture Talks
10/08/2025 - Czech billionaire Daniel Křetínský has ended discussions with thyssenkrupp AG over a proposed 50-50 venture for its steel unit and is handing back the stake it already bought in the business, deferring to thyssenkrupp’s wishes to pursue a deal with Jindal Steel International.
In a statement, Křetínský’s EP Group said it “respects thyssenkrupp AG's preference to concentrate on discussions with Jindal Steel International” and will bow out and return its 20% share in the business.
The EP Group acquired its stake in thyssenkrupp Steel Europe in 2024 and had been in talks to acquire an additional 30%, with a view to a 50-50 joint venture. But those talks so far had not produced an agreement, and in September, Jindal Steel submitted a nonbinding offer for the business.
According to Jindal, its offer for the company would secure steel production in Germany and create new business opportunities. Among other things, it includes completion of thyssenkrupp’s Duisburg direct reduced iron plant and establishing additional electric arc furnace capacity with a financial commitment of more than EUR2 billion.
“We believe in the future of green steel production in Germany and Europe,” said Narendra Misra, Jindal’s European operations director. “Our goal is to preserve and grow thyssenkrupp’s 200-year industrial legacy and help transform it into Europe’s largest integrated low-emission steelmaker.”
EP Group is selling its share in the business back to thyssenkrupp for the price it initially paid.
The EP Group acquired its stake in thyssenkrupp Steel Europe in 2024 and had been in talks to acquire an additional 30%, with a view to a 50-50 joint venture. But those talks so far had not produced an agreement, and in September, Jindal Steel submitted a nonbinding offer for the business.
According to Jindal, its offer for the company would secure steel production in Germany and create new business opportunities. Among other things, it includes completion of thyssenkrupp’s Duisburg direct reduced iron plant and establishing additional electric arc furnace capacity with a financial commitment of more than EUR2 billion.
“We believe in the future of green steel production in Germany and Europe,” said Narendra Misra, Jindal’s European operations director. “Our goal is to preserve and grow thyssenkrupp’s 200-year industrial legacy and help transform it into Europe’s largest integrated low-emission steelmaker.”
EP Group is selling its share in the business back to thyssenkrupp for the price it initially paid.
