Thyssenkrupp, Tata Steel agree to forge Europe's No. 2 steelmaker

摘要

Germany's Thyssenkrupp and India's Tata Steel struck a preliminary deal on Wednesday to merge their European steel operations in a 50-50 joint venture to create the continent's No.2 steelmaker after ArcelorMittal. The deal will not involve any cash, Tata Steel said, adding that both groups would contribute debt and liabilities to achieve an equal shareholding and remain long-term investors.