Published by Global Banking & Finance Review®
Posted on October 2, 2025
2 min readLast updated: January 21, 2026
Add as preferred source on GoogleDaniel Kretinsky sells his Thyssenkrupp steel stake, ending joint venture plans, potentially opening talks with Jindal Steel amid European industry challenges.
FRANKFURT (Reuters) -Czech billionaire Daniel Kretinsky is selling his 20% stake in Thyssenkrupp's steel unit and also scrapped plans for a 50:50 joint venture for the business, both parties said in a joint statement, paving the way for a possible deal with Jindal Steel.
The stake sale ends lengthy talks over what could have become a German-Czech steel and energy giant, discussions that have not made any measurable progress since Kretinsky bought a fifth of Thyssenkrupp Steel Europe (TKSE) last year.
It now creates momentum for Thyssenkrupp to intensify talks with India's Jindal Steel International, which last month presented an indicative bid for all of TKSE, a volatile business its parent has sought to divest for years.
The statement said that Kretinsky's EP Group "respects Thyssenkrupp AG's preference to concentrate on discussions with Jindal Steel International".
The news comes as uncertainty over the prospect of steelmaking in Europe grows, suffering from cheap Chinese imports, high energy costs and a delay to hydrogen-based decarbonisation of what is one of the most polluting industries.
Kretinsky's EP Group and Thyssenkrupp had the aim of eventually forming 50:50 joint venture for TKSE, but talks have been fraught with difficulties as powerful unions have accused the Czech businessman of refusing to engage.
(Reporting by Christoph Steitz; editing by Matthias Williams)
A joint venture is a business arrangement where two or more parties agree to pool their resources for a specific project or business activity, sharing profits, losses, and control.
Sustainability in finance refers to the practice of making investment decisions that consider environmental, social, and governance (ESG) factors, aiming to create long-term value while minimizing negative impacts.
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Financial markets are platforms where buyers and sellers engage in the trade of financial assets such as stocks, bonds, currencies, and derivatives, facilitating capital flow and investment.
Corporate strategy is the overall plan for a company, outlining how it will achieve its goals, allocate resources, and create value across its various business units.
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