Tata Steel, Thyssenkrupp Sign MoU for European Steel JV

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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