Thyssenkrupp, a European multinational conglomerate corporation based in Duisburg and Essen, Germany; may sign a memorandum of understanding with Tata Steel Limited, an Indian multinational steel-making company headquartered in Mumbai, Maharashtra, India, and a subsidiary of the Tata Group.
Thyssenkrupp and Tata Steel could merge their European steel businesses within weeks, German business monthly Manager Magazin reported on Friday, citing insiders.
Valuations are being discussed, along with the question of whether Tata would make a payment to Thyssenkrupp – whose European steel business is larger – in the event of a 50-50 venture, the magazine reported.
Neither Thyssenkrupp nor Tata had an immediate comment on the report.
Tata, Thyssenkrupp close to steel merger MoU – Manager Magazin
