Tata Steel and Thyssenkrupp agree to merge European steel operations

Tata Steel and Thyssenkrupp signed a memorandum of understanding to form a 50/50 joint venture merging their European steel operations, creating Europe's second-largest steel group. The deal is expected to result in 4,000 job losses and annual cost savings of up to 600 million euros.

“The firms have signed a memorandum of understanding that proposes a 50/50 joint venture, leading to annual cost savings of up to 600m euros.”bbc.com

• 2 sources
• bbc.comTata and ThyssenKrupp agree steel mergerAdd as preferred on GoogleSep 20, 2017
• bbc.co.ukTata and ThyssenKrupp agree steel merger - BBC NewsSep 20, 2017

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