 "Crack in the welding: Tata Steel, ThyssenKrupp JV hits speed bump")
Tata Steel Europe will get 5 per cent less stake in its proposed joint venture (JV) with ThyssenKrupp of Germany than what was envisaged in September 2017, thanks to its slowing earnings.
According to the new plan, the German firm will own about 55 per cent equity in the new company, while Tata Steel will own the remaining 45 per cent.
A new agreement between the two partners represents an increase of around $695 million for ThyssenKrupp shareholders as compared with last September’s deal. The Tatas have also agreed to pay for potential environmental risks at a coke
According to the new plan, the German firm will own about 55 per cent equity in the new company, while Tata Steel will own the remaining 45 per cent.
A new agreement between the two partners represents an increase of around $695 million for ThyssenKrupp shareholders as compared with last September’s deal. The Tatas have also agreed to pay for potential environmental risks at a coke
