# ThyssenKrupp and Tata Steel progress merger of European steel businesses

ThyssenKrupp and Tata Steel have made progress in merging their European steel operations, potentially forming a 50:50 joint venture expected to save 500 million euros. ThyssenKrupp may also merge its material services division with Klöckner.

- Type: Acquisition
- Announced: 2017-06-18
- Where: Germany
- Status: announced
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Thyssenkrupp](https://endata.com/companies/833.md)
- [Tata Steel](https://endata.com/companies/3546.md) (partner)
- [Klöckner](https://endata.com/companies/24967.md) (partner)

## Sources

- [tytsteelpipes.com](https://www.tytsteelpipes.com/news/the-two-major-mergers-of-eu-steel-industry-and-6151606.html), 2017-06-18: "Tata and ThyssenKrupp may form a 50:50 joint venture, expected synergies and benefit from rising steel prices, the merger will likely save 500 million euros."
- [india.timesofnews.com](https://india.timesofnews.com/entertainment/business-economy/thyssenkrupp-ceo-keen-for-tata-steel-merger-deal-before-end-september-sources.html), 2017-07-26: "The fiscal year will come to an end soon (in September) and Hiesinger wants to have a story for investors."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.