Tata Steels JV with ThyssenKrupp in final stages: Sources

Sources tell CNBC-TV18 that Tata Steel’s JV with ThyssenKrupp is in its final stages after speciality steels asset sale. The joint venture will include Port Talbot, Netherlands Unit and ThyssenKrupp’s steel arm, learns CNBC-TV18.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney IThe Winning Leap SME Special
Moneycontrol

Home » News » CNBC-TV18 Comments

Nov 29, 2016, 02.45 PM | Source: CNBC-TV18

Tata Steel's JV with ThyssenKrupp in final stages: Sources

Sources tell CNBC-TV18 that Tata Steel’s JV with ThyssenKrupp is in its final stages after speciality steels asset sale. The joint venture will include Port Talbot, Netherlands Unit and ThyssenKrupp’s steel arm, learns CNBC-TV18.

Like this story, share it with millions of investors on M3

Tata Steels JV with ThyssenKrupp in final stages: Sources

Sources tell CNBC-TV18 that Tata Steel’s JV with ThyssenKrupp is in its final stages after speciality steels asset sale. The joint venture will include Port Talbot, Netherlands Unit and ThyssenKrupp’s steel arm, learns CNBC-TV18.

Post Your Comments

Share Cancel

Sources tell CNBC-TV18 that Tata Steel ’s JV with ThyssenKrupp is in its final stages after speciality steels asset sale.

Tata Steel  and Thyssenkrupp are looking at reducing the size of Britain's largest steel plant in Port Talbot, Wales, as the two firms press ahead with plans to merge their European steel operations and deal with the overcapacity afflicting the industry.

The move could see one of Port Talbot's two blast furnaces shut, halving the plant's capacity. Up to 4,000 people are employed at the site.

The joint venture will include Port Talbot, Netherlands Unit and ThyssenKrupp’s steel arm, learns CNBC-TV18.

Tata Steel and ThyssenKrupp are likely to own less than 50 percent each in the JV.

The joint venture may sell minority stake to a financial investor following which an IPO is likely in the future.  

Tata Steel is likely to park a part of debt in the joint venture with ThyssenKrupp.

The joint venture is dependent on UK pensioners agreeing to a change in pension scheme.

Tata Steel said it won’t respond to media speculations to CNBC-TV18.

Buy, Hold, Sell ? Hear it first on M3
Tata Steels JV with ThyssenKrupp in final stages: Sources

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login