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thyssenkrupp sees no risk of Tata Steel JV collapse - CFO

Steel News - Published on Wed, 16 May 2018

Image Source: Reuters
Reuters reported that Thyssenkrupp sees no risk that a planned deal to create a joint venture with Tata Steel can still collapse even though a crucial agreement between the Indian group and workers in the Netherlands has yet to be reached. CFO Guido Kerkhoff, when asked whether such a risk still existed after the group has delayed the signing of the deal which is now expected by the end of June, told analysts during a call that “No worries.”

In terms of the deal's timeline, Kerkhoff said: "I think the antitrust authorities are now more familiar with the steel industry. Following the signing, six months is plenty of time for the authorities. We are significantly smaller than ArcelorMittal-Ilva."

He told that a strategic update on the company will be presented to the supervisory board following the signing

The planned European steel joint venture marks the core of Thyssenkrupp’s strategy adjustment away from steel.

Source :

Posted By : Amom Remju on Wed, 16 May 2018
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