• Choose Language
  • Joint Venture Timeline

    Tata Steel in Europe is embarking on a potential joint venture with thyssenkrupp Steel Europe. Building on the two businesses’ shared values and goals, the partnership would help to overcome many of the structural challenges facing the European steel sector and secure a more sustainable future.Track the proposed joint venture’s journey over the coming months using this timeline.




     
    Memorandum of Understanding
    On 20 September 2017, Tata Steel and thyssenkrupp signed a Memorandum of Understanding to form a joint venture in respect of each business’ European
    steel operations.

    Due diligence and negotiation
    Each business grants each other access to confidential documents. Internal and external experts exchange information on key topics. Detailed contract negotiations get underway.

    Consultation
    Formal consultation processes were held with the European and national works councils. Discussions took place with other employee representatives, including trade unions.

    Signing
    Following satisfactory due diligence and negotiations, Tata Steel and thyssenkrupp have signed definitive agreements detailing the key aspects of the proposed joint venture.

    Regulatory review
    The definitive agreement will be sent to the relevant competition and antitrust authorities for review before the proposed joint venture can officially begin.

    Closing
    Following approval from the relevant authorities, the contract will be closed, and the new joint venture formally established. Until then, Tata Steel and thyssenkrupp remain competitors and must comply with competition law.

    Integration
    Step-by-step integration of the two companies will begin, building on their shared values and future ambitions.

     

    Frequently Asked Questions

    Do you have any questions?

    We have included many questions on the intended Joint Venture with thyssenkrupp.

    Find out more