Thyssenkrupp and Tata Steel sign merger deal for European joint venture

Thyssenkrupp and Tata Steel have signed a definitive agreement to merge their European steel businesses into a 50:50 joint venture called Thyssenkrupp Tata Steel B.V., creating Europe's second-largest steelmaker. The deal was approved by Thyssenkrupp's supervisory board on June 29, 2018.

“The joint venture not only addresses the challenges of the European steel industry. It is the only solution to create significant additional value of around euros 5 billion for both Thyssenkrupp and Tata Steel due to joint synergies which cannot be realised in a stand-alone scenario.”latestly.com

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• latestly.comGermany's Thyssenkrupp and India's Tata Steel Sign Mega Merger Deal | 🇮🇳 LatestLYMarisha Dolly SinghJul 2, 2018

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