Tata Steel and thyssenKrupp European joint venture officially banned

2019-06-11

Jun. 11, 2019 - The European Commission today announced its decision to prohibit the proposed European steel joint venture between Tata Steel Ltd and thyssenkrupp AG. 

Both companies, in statements on May 10, anticipated the European Commission would not clear the proposed joint venture despite both parties offering a comprehensive package of remedies. Tata Steel noted with deep disappointment the conclusions of the Commission.

Tata Steel remains committed to its long-term strategy of focusing on growth in India and working towards creating a sustainable portfolio in Europe.