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Salzgitter eying Thyssenkrupp Tata Steel JV remedies assets sale - Report

Steel News - Published on Tue, 02 Apr 2019

Image Source: Reuters
Reuters reported that Salzgitter’s CEO Mr Heinz Joerg Fuhrmann said that he will look at any assets that Thyssenkrupp and Tata Steel could divest as part of anti-trust remedies being offered to help their planned joint venture deal. He said “We would certainly look at it with interest. Business in the first three months of the year had gone quite well.”

Thyssenkrupp and Tata Steel made remedy proposals to the European Commission in an effort ahead of an April 1 deadline, to get a green light to create Europe’s second-largest steelmaker after ArcelorMittal. The remedies include parts of Tata Steel’s packaging steel activities, sources told Reuters last month, which had been singled out as an area of concern, along with the automotive and electrical steel segments.

Separately, German business daily Handelsblatt said that Thyssenkrupp could also offer its Spanish hot-dip galvanising line Galmed SA as part of the proposed remedies.

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Posted By : Rabi Wangkhem on Tue, 02 Apr 2019
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