Tata Steel and Thyssenkrupp of Germany have signed a Memorandum of Understanding (MoU) in a deal that is poised to create one of Europe’s largest steel companies. The two partners have been in merger talks for more than a year.
They will form a 50:50 joint venture to create a powerful No. 2 in the European steel market. The merger will lead to substantial cost savings for both steel players.
Important Takeaways from Above News-
- Natarajan Chandrasekaran is the Chairman of Tata Steel.
- Dr. Heinrich Hiesinger is the CEO of Thyssenkrupp.
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