Thyssenkrupp, Tata Steel reach compromise in JV talks

Thyssenkrupp and Tata Steel are closing in on a deal to combine their European steel units this week, four people familiar with the talks told Reuters. Talks to hammer out the final details are progressing well and a compromise has been reached for how to close a valuation gap that has emerged between both businesses, three of the people said, without elaborating. Sources told Reuters this month that options included a cash payment to Thyssenkrupp, changing the 50-50 ownership structure of the venture, lowering the debt to be transferred to it, or limiting dividend payments to Tata Steel for a number of years. Thyssenkrupp declined to comment. Tata Steel was not immediately available for comment.

from The Economic Times https://ift.tt/2IwTpXZ