Negotiations between Thyssenkrupp AG and Jindal Steel International over the potential sale of the German firm’s steel division are showing little progress, raising concerns among labor representatives and stakeholders.
Juergen Kerner, deputy chairman of Thyssenkrupp’s supervisory board and a senior official at IG Metall, said discussions have been repeatedly delayed despite earlier assurances. He noted that worker representatives had submitted a detailed questionnaire to Jindal, which has been conducting due diligence on Thyssenkrupp Steel Europe (TKSE) since October, but responses have yet to materialize.
The lack of clarity has left employees uncertain about the future of TKSE, Europe’s second-largest steelmaker and a key part of Germany’s industrial legacy. “We were promised answers, but these have been postponed several times,” Kerner said, highlighting growing frustration among workers.
Jindal had submitted a non-binding bid for the steel unit in September, offering Thyssenkrupp a potential exit from a volatile business segment it has struggled to divest for years. However, prolonged negotiations over valuation and future investments appear to be slowing the process.
A spokesperson for Thyssenkrupp confirmed that talks are still ongoing, echoing recent comments by CEO Miguel López, who stressed that the company is working to secure a sustainable future for the steel division—with or without Jindal as a partner.
Adding to the uncertainty, US-based investor Flacks Group has expressed interest in acquiring TKSE if current negotiations fail, introducing a possible alternative buyer.
The outcome of the deal is seen as central to Thyssenkrupp’s broader restructuring strategy, aimed at transforming the conglomerate into a more streamlined holding company. With EU measures to support the struggling steel sector improving investor sentiment, the pressure is mounting to reach a timely resolution.
For now, however, the future of TKSE remains uncertain as negotiations continue without a clear breakthrough.
Thyssenkrupp-Jindal Steel Deal Faces Delays, Talks Lose Momentum
