Naveen Jindal’s Jindal Steel International offers non-binding bids to acquire thyssenkrupp Steel Europe
By Abhishek Law
Copyright thehindubusinessline
Jindal Steel (International), part of the Naveen Jindal Group, has submitted a non-binding offer to acquire thyssenkrupp Steel Europe (tkSE), the steel arm of German industrial group thyssenkrupp AG.
The deal, say market sources, could be valued anywhere around the €3-4 billion range.
The Indian group confirmed on Tuesday that it will now enter discussions with thyssenkrupp AG over a potential deal.
If successful, it would mark one of the biggest cross-border acquisitions in the global steel sector in recent years.
Green steel push in Germany
Jindal Steel has pledged an investment of over €2 billion to complete thyssenkrupp’s direct reduction iron (DRI) project in Duisburg and add new electric arc furnace (EAF) capacity.
Following these upgrades, Jindal said, tkSE would become Europe’s largest low-emission steel producer.
The proposed plan also links tkSE with Jindal’s global assets, including an €2 billion hydrogen-ready DRI plant in Oman (operational from 2027), providing additional supply security.
Other integration include iron ore mines in Cameroon, ensuring raw material availability for both Oman and Duisburg DRI facilities.
Jindal’s integrated “mine-to-metal” model, the company argues will improve tkSE’s competitiveness across market cycles.
Jindal Steel International reported revenues of €12 billion in FY25, with a 22 per cent EBITDA margin and low net leverage of €1.2 billion.
The Naveen Jindal Group has steel, energy, and mining assets across India, Europe, Africa, and the Middle East, with current steel production of 12.6 million tonnes per year, and a target to reach 30 mtpa by 2030.
Strategic Solutions
The potential sale comes as thyssenkrupp AG looks for strategic solutions for its steel division, which has long struggled with high energy costs, rising carbon regulations, and global competition.
Jindal, for its part, would gain a stronger foothold in Europe, boosting its global network and aligning with its decarbonisation roadmap.
Published on September 16, 2025
