The energy holding EP Corporate Group (EPCG) has signed an agreement to sell 20% in the steel division of the German concern ThyssenKrupp AG, abandoning plans to create a joint venture. This is reported in the EPCG press release.
Negotiations on the creation of a joint venture between Thyssenkrupp, controlled by Czech billionaire Daniel Křetínský, and the EP Group began in 2024, but did not lead to a positive result, facing difficulties, including the critical attitude of trade unions.
The financial terms of the deal were not disclosed, but, from the point of view of analysts, the stake is estimated at 140 million euros. The EP Group will receive compensation for the value of the share package. EP Group acquired a 20% stake in ThyssenKrupp in April 2025, and planned to increase the stake to 50%.
EPCG's decision will allow ThyssenKrupp to focus on negotiations with India's Jindal Steel International, which submitted a preliminary proposal to acquire the steel business in September 2025. Jindal is ready to invest more than 2 billion euros in the development of electric arc furnaces and the completion of the green project in Duisburg, as well as assume pension obligations of ThyssenKrupp in the amount of 2.7 billion euros.
The proposed deal is aimed at expanding Jindal's presence in the European region. At the same time, ThyssenKrupp will be able to reduce risks and focus on more stable business lines by selling the troubled division. ThyssenKrupp had previously planned to sell its steel business and in April announced its intention to cut jobs and reduce production capacity, taking into account difficult market conditions.
The European steel industry is in crisis amid rising imports of cheap Chinese products, high energy costs and a slow transition to hydrogen technologies.
ThyssenKrupp AG is one of the largest industrial concerns in Germany and the world's largest manufacturer of high—alloy steel and metalworking machines, as well as stainless steel sheets and components for the automotive industry. The group was founded as part of the merger of Thyssen AG and Friedrich Krupp AG Hoesch-Krupp and includes subsidiaries Berco, ThyssenKrupp Fördertechnik, ThyssenKrupp Stahl Baulemente, ThyssenKrupp Elevator and Polysius.
Jindal Steel Limited is an Indian steel company with headquarters in New Delhi.
EP Corporate Group is an energy holding company. The company offers a wide range of services, including energy production and transmission, media investments, and real estate development projects. The headquarters is located in Prague (Czech Republic).
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