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Thyssenkrupp & Tata Steel JV remedy deadline extended to Apr 9

Steel News - Published on Fri, 22 Mar 2019

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Reuters reported that Thyssenkrupp and Tata Steel have agreed with the European Commission to extend a deadline to submit remedies in exchange for regulatory approval for a planned European steel joint venture. . This will move the overall deadline for a decision to May 13 from April 29. The report quoted a spokesman for Thyssenkrupp as saying that “In the ongoing merger control proceedings the deadline to submit a proposal, through which Thyssenkrupp and Tata Steel will address the Commission’s concerns. To adequately draw up the proposal the partners have agreed to apply for an extension by 8 working days as part of the constructive dialogue with the Commission.”

Thyssenkrupp confirmed it remains confident that the transaction, which will create Europe’s second-largest steelmaker after ArcelorMittal, can be completed in the spring.

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Posted By : Rabi Wangkhem on Fri, 22 Mar 2019
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