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Tata Steel-ThyssenKrupp merger: EU starts in-depth investigation

The two are major integrated producers of flat carbon steel and electrical steel, with significant production facilities in the European Economic Area (EEA), in particular in Germany, the Netherlands

Tata Steel
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Tata Steel

Press Trust of India London
The European Union on Tuesday launched an “in-depth investigation” to assess if Tata Steel’s proposed joint venture (JV) with German steel giant ThyssenKrupp would breach the bloc’s merger regulations and reduce competition.
 
The two are major integrated producers of flat carbon steel and electrical steel, with significant production facilities in the European Economic Area (EEA), in particular in Germany, the Netherlands and the UK.
 
In June, Tata Steel had confirmed it agreed the terms of a 50-50 JV with ThyssenKrupp to create Europe’s second-largest steel company after Lakshmi Mittal’s ArcelorMittal. “The European Commission has opened an in-depth investigation

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First Published: Oct 31 2018 | 1:19 AM IST

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