Posted on 24 Mar 2026
Negotiations regarding the sale of Thyssenkrupp’s steel division to India’s Jindal Steel International are not progressing, but the long-awaited deal should not be delayed for months. This was stated by Juergen Kerner, deputy chairman of the German company’s supervisory board, according to Reuters.
Kerner, who is also deputy chairman of IG Metall, said that union representatives provided Jindal—which has been conducting a comprehensive review of Thyssenkrupp’s steel division since last October—with a detailed list of questions regarding the process. However, the provision of answers has been postponed several times.
“It is clear that negotiations between Thyssenkrupp AG and Jindal are taking longer than expected,” he said.
In September 2025, India’s Jindal made a non-binding offer to acquire Thyssenkrupp’s steel division—TKSE—opening up a new opportunity for the German conglomerate to sell this struggling business.
A Thyssenkrupp spokesperson stated that negotiations with Jindal Steel are ongoing, also citing recent comments by CEO Miguel López—who noted that discussions concern valuation and future investments, and that TKSE will be prepared for the future, with or without Jindal.
A representative of Jindal Steel International noted that the company is continuing negotiations with Thyssenkrupp and is convinced that its “industrial concept for Thyssenkrupp Steel offers a clear vision for low-carbon and competitive steel production in Germany.”
It should be noted that in mid-March, Bloomberg, citing sources, reported that senior Thyssenkrupp officials were increasingly skeptical about the possibility of reaching a deal with Jindal. Negotiations had reached an impasse on several key issues, including funding to support Thyssenkrupp Steel Europe during the downturn in the European steel market, as well as the amount of capital the German conglomerate must invest in TKSE before transferring control to the new owner.
As a reminder, last October, Czech billionaire Daniel Kretinsky agreed to sell his 20% stake in Thyssenkrupp’s steel division, abandoning plans to form a joint venture with the German company. As stated in a joint statement by the parties, this decision allows the latter to focus on negotiations with India’s Jindal.
The deal put an end to protracted negotiations that could have led to an alliance between the German and Czech steel and energy sectors, but which had failed to yield any tangible progress since Kretinsky acquired a stake in Thyssenkrupp in 2024.
As reported, the American investment fund Flacks Group is prepared to make an offer to acquire Thyssenkrupp’s steel division if current attempts to sell it fail.
Source:GMK Center
