Jindal Steel offers a non -binding offer for Thyssenkrup hard unit

Thyssenkrup confirmed on Tuesday that it had received a non -binding offer for the steel section of Jindal Steel International, a subsidiary of the Naveen Jindal Group. The offer represents the latest development in the efforts of Thyssenkrup to strip it of its solid works, which achieved 10.7 billion euros (9.2 billion pounds) of sales last year. The company stated that it will make the offer “especially with regard to economic sustainability, the continued green transformation and employment in our solid sites.”

The offer comes from Jindal Steel International, which follows a series of unsuccessful sales attempts, in a critical period for Thyssenkrup as it follows a strategy to become a smaller and more concentrated process. The company has struggled to overcome the pensions related to the thyssenkrupp steel Europe (TKSE), which is estimated at 2.7 billion euros (2.3 billion pounds). Jindal Steel International indicated that he will be ready to take these pension obligations as part of any agreement, according to a person familiar with the matter.

The approach news sent stocks at Thyssenkrup by up to 7.9 percent, which closed today by 4.4 percent, reaching its highest value for more than four years.

The Jindal Steel International statement indicated its commitment to maintaining steel production in Germany, ensuring the completion of the green steel production site in Duisburg, and invested more than two billion euros (1.7 billion pounds) to develop more electric oven capacity.

“Our goal is to preserve the 200 -year -old Thyssenkrup legacy and help convert it into the largest low -emissions Flewalah maker in Europe,” said Narindra Maysara, director of European Operations at Gendall.

Last year, Thyssenkrup sold a 20 percent stake in TKSE for Czech billionaire Daniel Critski, with plans to strip an additional 30 percent and form a joint venture of 50-50. However, this step faced criticism from IG Metall, the influential German labor union, who stated that Kretinsky had not provided information about his strategic plans as a participant.

Commenting on the Jeergen Kerner, Vice Chairman of the THYSSENKRUPP and a chief member of the IG Metall Board of Directors, commented that “the news about the offer was good and that deep discussions should start as soon as possible.”