JINDALSTEL

** Shares of India's Jindal Steel JINT.NS jump as much as 4.56% to 1,278.90 rupees; last up 3.18%

** Steelmaker's Q4 consolidated revenue from operations rises 23% y/y to 162.18 billion rupees ($1.71 billion), helped by ramp-up of new capacities

** Co swings to a profit of 10.45 billion rupees vs loss year-ago

** Fourth-quarter steel production rises ~25.6% y/y, sales volumes grow ~23%

** Prabhudas Lilladher raises PT by 24 rupees to 1,289 rupees; cuts FY27 EBITDA estimates by 2% and raises FY28 by 3%, citing near-term margin pressure during capacity ramp-up

** Brokerage expects EBITDA to grow over 40% annually from FY26

** YTD, stock up ~20.5%

($1 = 94.8425 Indian rupees)

(Reporting by Bipasha Dey in Bengaluru)

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Recasts throughout, adds labour chief comments, details on TKSE future

By Christoph Steitz

FRANKFURT, May 2 (Reuters) - Thyssenkrupp TKAG.DE has paused talks with India's Jindal Steel International about a possible sale of the German industrial group's steel unit, it said on Saturday, marking a setback for CEO Miguel Lopez's restructuring efforts.

Lopez has made major progress in recent years with turning Thyssenkrupp into a holding company, most notably by separately listing its hydrogen and warship divisions, but long-standing plans to divest the volatile steel business have proved more difficult to achieve.

While the companies did not provide a reason for why talks had ended, Lopez said in the statement that prospects for the steel business were "better than they have been in a long time", citing improved conditions across the continent.

Reuters reported in March that the discussions over a deal, which started in September, could be called off due to differences over pension liabilities, investments and energy costs, citing four people familiar with the matter.

Jindal Steel International had made an indicative bid for Thyssenkrupp Steel Europe (TKSE) last year , leading to months of due diligence and negotiations on a potential purchase of what is Europe's second-biggest steelmaker.

"The original assumptions and prerequisites for a potential sale of Thyssenkrupp Steel have significantly changed in recent months," Thyssenkrupp said in a statement, adding that the decision to halt the talks was mutual.

SECTOR PRIMED FOR REBOUND

Europe's steel sector has been boosted by EU safeguard measures to better protect it against cheap Asian imports, essentially throwing the industry a lifeline after years of plant closures and job cuts.

As a result, the sector is set for a rebound and the first quarter of 2026 could represent an inflection point, analysts have said , pointing to higher steel prices on the continent.

Narendra Misra, director of European operations at Jindal, said despite talks being paused, the groups "remain connected in friendship and our shared goal remains to work on building low-carbon steel production in Europe".

Thyssenkrupp said it would for now continue with TKSE's restructuring, confirming a medium-term goal to make the business independent and eventually retain a minority stake down the line.

Juergen Kerner, deputy chief of Germany's IG Metall labour union as well as Thyssenkrupp's supervisory board, on Saturday called on management to start talks soon over an independent set-up for TKSE.

(Reporting by Rachel More and Christoph Steitz, Editing by William Maclean and Keith Weir)

((rachel.more@thomsonreuters.com;))

May 1 (Reuters) - Jindal Steel Ltd JINT.NS:

• JINDAL STEEL Q4 CONSOL NET PROFIT 10.45 BILLION RUPEES

• JINDAL STEEL Q4 CONSOL TOTAL REVENUE FROM OPERATIONS 162.18 BILLION RUPEES

• JINDAL STEEL LTD- DIVIDEND OF 2 RUPEES PER SHARE

Further company coverage: JINT.NS

((Reuters.Briefs@thomsonreuters.com;))

Repeats for wider distribution

By Christoph Steitz and Neha Arora

FRANKFURT/NEW DELHI, March 25 (Reuters) - Discussions of a possible sale of Thyssenkrupp's TKAG.DE steel unit to Jindal Steel International could be called off due to differences over pension liabilities, investments and energy costs, four people familiar with the matter said.

While talks over a sale of Thyssenkrupp Steel Europe (TKSE) are ongoing and could still result in an agreement, a deal is now seen as less likely after nearly six months of due diligence and discussions, the people said.

The companies could decide to officially stop negotiations as soon as next month, one of the people said.

Thyssenkrupp has tried to sell TKSE several times in the past decades, pursuing everything from listings to spinoffs and joint ventures to outright sales of the cyclical high-cost business.

Failure to sell TKSE would mean a setback for the plan by Thyssenkrupp CEO Miguel Lopez to turn the storied German engineering group into a holding by divesting stakes in all of its business divisions ranging from car parts to clean-tech.

Among the factors complicating talks are 2.4 billion euros ($2.8 billion) of pension liabilities tied to TKSE, which has been a hurdle in past sales efforts, as well as differing ideas over how much future investment is needed, the people said.

In addition, there has been growing unease at Jindal Steel International over rising energy costs in Europe, the second source said. Energy costs in Europe were already higher than in the United States and Asia, and they have soared further as a result of the Iran war.

Thyssenkrupp said on Wednesday confidential talks with Jindal Steel International and labour representatives continued, adding that matters of valuation, obligations and future investments would need to be agreed between the parties.

Jindal Steel International, the international steel arm of the Naveen Jindal Group, had no immediate comment.

Earlier this month, Lopez said the group would continue with TKSE's restructuring "with or without Jindal," while Thyssenkrupp's deputy supervisory board chairman, Juergen Kerner, last week said talks had stalled.

Lopez has also said that planned EU measures to protect the bloc's underperforming steel sector had boosted investor sentiment and strengthened Thyssenkrupp's position in negotiations.

Jindal Steel International in September made an indicative offer for TKSE that includes the completion of a green steel production site in Duisburg and a more than 2 billion-euro ($2.31 billion) commitment to establish additional electric arc furnace capacity.

($1 = 0.8622 euro)

(Reporting by Christoph Steitz in Frankfurt and Neha Arora in New Delhi;
Editing by Matthew Lewis)

((christoph.steitz@thomsonreuters.com; +49 30 220 133 647))

March 24 (Reuters) - Jindal Steel Ltd JINT.NS:

• JINDAL STEEL LTD - COMPLETES 6 MTPA EXPANSION AT ANGUL, CAPACITY NOW 12 MTPA

Source text: ID:nBSE9cMYS3

Further company coverage: JINT.NS

((Reuters.Briefs@thomsonreuters.com;;))

FRANKFURT, March 20 (Reuters) - A senior official at a German trade union on Friday said that Jindal Steel International has repeatedly delayed answering labour representatives' questions on the Indian group's plans to acquire Thyssenkrupp's TKAG.DE steel unit.

This indicates that a deal remains elusive, IG Metall official Juergen Kerner told Reuters.

(Reporting by Christoph Steitz, writing by Ludwig Burger, editing by Thomas Seythal)

((ludwig.burger@thomsonreuters.com; ))

March 11 (Reuters) - Jindal Steel Ltd JINT.NS:

• DECLARED PREFERRED BIDDER FOR THAKURANI-A1 IRON ORE BLOCK IN ODISHA

Source text: ID:nBSE98mRpY

Further company coverage: JINT.NS

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Adds details on TKSE, Flacks in paragraphs 2-4, updates shares in paragraph 5, Thyssenkrupp comment in paragraph 6

By Andres Gonzalez

LONDON, March 5 (Reuters) - U.S. investment fund Flacks Group would be ready to bid for the steel division of Germany's Thyssenkrupp TKAG.DE should current efforts to sell it fail, its CEO Michael Flacks told Reuters on Thursday.

Thyssenkrupp has been in talks with Jindal Steel International about a possible sale of Thyssenkrupp Steel Europe (TKSE) since autumn, discussions that are yet to result in a firm bid for the business.

Flacks Group, which describes itself as one of the leading investors in distressed assets and special situations worldwide, was picked in December by Italy for exclusive talks on the sale of bailed-out steel company Acciaierie d'Italia.

"Our main interest is now in Italy, but we are interested in major steel companies, and if the talks regarding an acquisition of Thyssenkrupp's steel business fail, we are ready to bid for it," Flacks said.

Shares in Thyssenkrupp turned positive on the news and were up as much as 2.2%.

Flacks told the FT last month that he was also interested in acquiring British Steel.

A Thyssenkrupp spokesperson said the restructuring of TKSE, which includes the cutting or outsourcing of up to 11,000 jobs, had boosted the division's attractiveness, and that the company was in constructive talks with Jindal Steel International.

(Reporting by Andres Gonzalez; Additional reporting by Christoph Steitz; Editing by Toby Chopra, Jane Merriman and Jan Harvey)

((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))

Recasts throughout

By Christoph Steitz and Tom Käckenhoff

FRANKFURT, Feb 12 (Reuters) - Planned EU measures to protect the bloc's beaten steel sector have boosted investor sentiment and strengthened Thyssenkrupp's TKAG.DE position in talks to sell its steel division to India's Jindal Steel International, its CEO said on Thursday.

Jindal Steel International made a non-binding bid for Thyssenkrupp Steel Europe (TKSE), Europe's No. 2 steelmaker, in September, creating a way for the storied German firm to finally part with a volatile business it has sought to sell for years.

A solution for TKSE, which is closely tied to Germany's industrial history, is seen as the centrepiece of Thyssenkrupp CEO Miguel Lopez's strategy to turn the sprawling group into a holding.

Lopez said that market sentiment on steel companies had markedly improved over the past four months. That was mostly due to EU proposals to cut import quotas by almost half and raise out-of-quota tariffs to 50% from 25%, changes aimed at protecting European steelmakers against cheap Asian imports.

"There is a clear positive sentiment here," Lopez told analysts after presenting first-quarter results on Thursday, adding this would be part of the "conversations with our colleagues from Jindal, no doubt about that".

Lopez said Thyssenkrupp remained in constructive and intense talks with Jindal Steel over a majority sale of TKSE following the start of due diligence in October.

Thyssenkrupp CFO Axel Hamann signalled there would not be any immediate breakthrough in discussions, saying "there is still a lot to be discussed and negotiated".

The comments came as Thyssenkrupp unveiled 401 million euros ($477 million) in expenses to fund job cuts at TKSE, causing a wider-than-expected first-quarter net loss of 353 million euros.

Efforts to streamline have already seen Thyssenkrupp divest and list its electrolyser and warship divisions, lifting Thyssenkrupp's stock price despite a tough macroeconomic environment.

($1 = 0.8411 euros)

(Reporting by Christoph Steitz and Tom Kaeckenhoff, editing by Jane Merriman, Ludwig Burger and Thomas Seythal)

((christoph.steitz@thomsonreuters.com))

Adds TKSE CEO comment in paragraph 4, Vallourec reaction in paragraphs 7-8

By Christoph Steitz and Tom Käckenhoff

FRANKFURT/DUESSELDORF, Feb 6 (Reuters) - Germany's Salzgitter SZGG.DE on Friday said it planned to buy out the co-owners of steel joint venture HKM to become the company's sole owner from mid-2026, potentially ending a dispute with Thyssenkrupp over the future of the ailing business.

A solution around HKM, owned by Salzgitter, Thyssenkrupp Steel Europe (TKSE) and France's Vallourec VLLP.PA in a 50-30-20 split, could end years of uncertainty over the struggling company that employs 3,000 staff.

It could also remove a hurdle in Thyssenkrupp's ongoing talks to sell TKSE to India's Jindal Steel International, with HKM's fate being one of the unsolved issues after the group came under pressure from cheaper rivals and weakening demand.

"The agreement represents an important milestone...setting Thyssenkrupp Steel on an even keel as we move into the future," TKSE CEO Marie Jaroni said.

Under the plans, Salzgitter would buy the stakes of its co-owners for an undisclosed sum and continue as HKM's sole owner from June, while also severing HKM's supply ties with TKSE in 2028, four years earlier than currently planned.

In a joint statement, Thyssenkrupp TKAG.DE and Salzgitter - Germany's two biggest steelmakers - said the agreement depended on a positive assessment of HKM's future commissioned by Salzgitter, as well as Vallourec agreeing to sell its stake.

French steel tubes maker Vallourec said in a statement it was open to selling its stake in HKM, adding its strategy no longer required participation in the joint venture.

"Vallourec views the agreement reached between (Thyssenkrupp and Salzgitter) as an important step towards a potential divestment. Vallourec will thoroughly analyse the terms of the agreement in the coming days."

(Reporting by Christoph Steitz and Tom Kaeckenhoff, Editing by Linda Pasquini, Kirsten Donova)

((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))

Jan 30 (Reuters) - Jindal Steel Ltd JINT.NS:

• JINDAL STEEL Q3 CONSOL NET PROFIT 1.9 BILLION RUPEES

• JINDAL STEEL Q3 CONSOL TOTAL REVENUE FROM OPERATIONS 130.27 BILLION RUPEES

Source

Further company coverage: JINT.NS

((Reuters.Briefs@thomsonreuters.com;))

BERLIN, Jan 26 (Reuters) - Global trade is being severely disrupted by military conflicts and a trade war launched by the United States, creating a new normal for businesses in the form of uncertainty, not stability, according to German industrial firm Thyssenkrupp on Monday.

"We are witnessing the demise of the rules-based order of the past decades," the company's Supervisory Board Chairman Siegfried Russwurm said in a speech released ahead of the group's annual general meeting scheduled for January 30.

"These new conditions confront business constantly with new political interventions without imparting any reliable economic stimulus. If one thing has emerged as the current 'new normal,' it is the lack of stability in our commercial conditions, which is attributable to political factors."

(Reporting by Christoph Steitz; editing by Matthias Williams)

((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))

By Christoph Steitz, Tom Käckenhoff and Neha Arora

FRANKFURT/DUESSELDORF/NEW DELHI, Jan 7 (Reuters) - Germany's Thyssenkrupp TKAG.DE could sell its steel division to India's Jindal Steel International in several steps, four people familiar with the talks said, as the two sides try to strike a deal for the complex business.

Jindal Steel has been conducting due diligence on Thyssenkrupp Steel Europe (TKSE) since October after making an indicative bid for Europe’s second-largest steelmaker. The deal is key for Thyssenkrupp as the submarines-to-car parts group seeks to become leaner and more focused.

One option under discussion would see Jindal take a majority stake in TKSE, likely 60%, in a first step, with the remaining 40% acquired later in two 20% tranches or in one go, depending on progress in restructuring, the people said.

A phased transaction would give Thyssenkrupp more flexibility to address about 2.5 billion euros ($2.9 billion) in pension liabilities tied to TKSE - a major hurdle in previous sale attempts, one of the people said.

Details of how a gradual takeover could be structured and its impact on debt obligations have not previously been reported. Due diligence is ongoing and terms could still change, the people said.

JINDAL STEEL DELEGATION SET FOR JANUARY VISIT TO GERMANY

A sale of TKSE would end years of efforts to find a buyer for an asset that, while central to Germany's industrial heritage, has been volatile and costly to run amid tougher Asian competition.

For Jindal Steel International, the international steel arm of the Naveen Jindal Group, it would mark a major expansion into Europe after buying smaller Czech peer Vitkovice Steel in 2024.

Thyssenkrupp said in a statement that all aspects of the transaction - including valuation, obligations and future investments - would be discussed during due diligence and any contract talks.

"We cannot comment on individual statements, which at this stage can only represent an interim status," it said.

Jindal Steel International had no immediate comment.

A second source said a Jindal delegation was scheduled to visit Germany in January for a technical review of TKSE's Duisburg plant, after a planned December trip was postponed.

A phased takeover would also keep Thyssenkrupp involved in TKSE's restructuring, a third source said.

Thyssenkrupp CEO Miguel Lopez said last month that Jindal Steel was an optimal fit for TKSE, adding that a sweeping restructuring plan to cut jobs and capacity had prompted the Indian group's interest.

Lopez said Thyssenkrupp still had a plan B if talks with Jindal Steel International fail, without giving details.

($1 = 0.8538 euros)

(Reporting by Christoph Steitz, Tom Kaeckenhoff and Neha Arora. Additional reporting by Aditya Kalra. Editing by Adam Jourdan and Mark Potter)

((christoph.steitz@thomsonreuters.com; +49 30 220 133 647))

Adds details throughout

By Vivek Kumar M

Dec 31 (Reuters) - Shares of major Indian steel companies climbed between 2% and 5% on Wednesday after the country imposed a three-year import tariff on select products to curb cheap shipments from China.

The levy, locally known as a safeguard duty, will be imposed at 12% in the first year followed by 11.5% in the second year and then 11% in the third year.

Tata Steel TISC.NS and JSW Steel JSTL.NS rose 2.4% and 5%, respectively, leading gainers on the benchmark Nifty 50 .NSEI index. Steel Authority of India SAIL.NS and Jindal Steel JINT.NS also added 2.5% and 3.5%.

"Post announcement of the safeguard duty, the domestic steel prices are currently at about 13% to 15% discount to the landed cost of imports from China, providing sufficient headroom for price hikes by domestic manufacturers," said Sunny Agrawal, head of fundamental equity research at SBICAPS Securities.

The move follows the Directorate General of Trade Remedies' findings of a sharp surge in imports causing injury to domestic producers.

Earlier, the government had implemented a temporary 12% duty for 200 days in April . While that shorter duration caused investor uncertainty, the new three-year window provides long-term protection for local players, according to the analyst.

The metal stocks .NIFTYMET hit a record 11,189.8 points on the day, gaining as much as 1.7%. The sectoral gauge has risen in 12 of the previous 14 sessions, supported by firm prices for copper, aluminium and silver.

A rise in commodity prices is driven by expectations of two U.S. Federal Reserve rate cuts in 2026, improved Chinese demand and supply shortages, as per analysts.

The domestic metal index has jumped roughly 29% in 2025, outperforming the Nifty 50's 10% advance.

(Reporting by Vivek Kumar M; Editing by Mrigank Dhaniwala, Janane Venkatraman and Nivedita Bhattacharjee)

((VivekKumar.M@thomsonreuters.com;))

Dec 29 (Reuters) - Jindal Steel Ltd JINT.NS:

• JINDAL STEEL - TO DOUBLE STRUCTURAL STEEL CAPACITY AT RAIGARH TO 2.4 MTPA

• JINDAL STEEL - WILL DOUBLE EXISTING STRUCTURAL STEEL CAPACITY TO 2.4 MTPA BY MID 2028

Source text: [ID:]

Further company coverage: JINT.NS

((Reuters.Briefs@thomsonreuters.com;;))

By Christoph Steitz and Tom Käckenhoff

FRANKFURT/DUESSELDORF, Dec 11 (Reuters) - Thyssenkrupp's TKAG.DE steel unit said it will temporarily shut down production of electrical steel in Europe, a key material used in wind turbines and power grids, blaming cheap imports from Asia that it warns are putting an additional 1,200 jobs at risk.

The move, previously unreported, highlights the struggles of Europe's steel sector in the face of global trade frictions that have caused Chinese rivals to sell excess capacity on the continent, undercutting them by as much as a quarter, according to industry sources.

Thyssenkrupp Steel Europe (TKSE), Europe's second-largest steelmaker, is already cutting or outsourcing 11,000 jobs in response to the crisis, as talks about a sale to India's Jindal Steel International are entering a critical stage.

A further 1,200 job cuts would lift the total cuts to about 45% of TKSE's workforce from 40%.

TKSE will close its electrical steel plants in Germany and France from mid-December until the end of the year, the company said, adding its Isbergues site in France would be operating at half its capacity from January for at least four months.

"Grain-oriented electrical steel is indispensable for Europe's energy infrastructure and the energy transition," TKSE CEO Marie Jaroni said.

"We are strongly committed to maintaining production in Europe and are currently working to ensure effective market protection in order to guarantee fair competition for this strategically important product."

Imports of grain-oriented electrical steel (GOES), which is currently not covered by EU plans to cut tariff-free steel import quotas by almost half and impose a 50% duty for excess shipments, have tripled over the past three years, according to Eurostat data.

So far in 2025, imports of GOES have increased by around 50%, the data shows, a direct consequence of stiffer U.S. steel tariffs that have diverted supplies to Europe, a trend also seen in other industries.

Along with Poland's Stalprodukt SA STP.WA, TKSE is one of the last remaining European players producing the material, with China's Baowu, South Korea's POSCO 005490.KS and Nippon Steel 5401.T among the biggest exporters to Europe.

(Reporting by Christoph Steitz and Tom Kaeckenhoff;Editing by Elaine Hardcastle)

((christoph.steitz@thomsonreuters.com; +49 30 220 133 647))

ESSEN, Germany, Dec 9 (Reuters) - Thyssenkrupp TKAG.DE has a backup plan for its steel division if talks to sell it to India's Jindal Steel International should collapse, CEO Miguel Lopez told journalists on Tuesday at the group's annual press conference.

"We always have a plan B up our sleeve, which we will communicate when the time comes," Lopez said, adding Jindal Steel was the perfect fit for TKSE and that the assumption was that talks with Jindal will be successful.

(Reporting by Christoph Steitz, Editing by Miranda Murray)

((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))

Adds context in paragraph 4, Thyssenkrupp comment in paragraph 5

BERLIN, Dec 5 (Reuters) - Jindal Steel International sees government subsidies in Europe as "an important factor" in its strategy for a potential takeover of Thyssenkrupp's steel division (TKSE), the head of its European business was quoted as saying on Friday.

Jindal wants to make the transition to green steel "because we firmly believe that it makes economic sense," Narendra Kumar Misra told German magazine WirtschaftsWoche in an interview.

Thyssenkrupp, which has for years tried to dispose of its steel business, in September received an indicative bid from India's Jindal Steel International for TKSE.

The company is currently carrying out due diligence on TKSE, Germany's largest steelmaker, before deciding whether to make a firm offer.

Thyssenkrupp said in a statement that due diligence was ongoing, referring to Jindal Steel for any further questions around the strategic rationale of a potential takeover.

(Reporting by Tom Kaeckenhoff, Writing by Friederike Heine and Christoph Steitz, Editing by Miranda Murray and Louise Heavens)

((friederike.heine@thomsonreuters.com;))

BERLIN, Dec 3 (Reuters) - Thyssenkrupp's TKAG.DE steel division head, Marie Jaroni, estimates a restructuring deal that will cut or outsource about 11,000 jobs will cost the company a three-digit million-euro amount, she told the Frankfurter Allgemeine Zeitung newspaper.

Thyssenkrupp Steel Europe (TKSE) said earlier this week that it had agreed with the IG Metall union to cut or outsource 40% of its workforce and reduce production capacity to a shipping level of 8.7 million to 9 million tons, from 11.5 million at present.

"The restructuring is costing us a mid-three-figure million euro sum. The exact amount depends on how many employees accept which offer," Jaroni said in an interview published on Wednesday.

This will pay off, she added, because the company will have permanently lower personnel costs, "a low three-digit million amount less annually than today," she told the newspaper.

Thyssenkrupp, which has for years tried to dispose of its steel business, in September received an indicative bid for from India's Jindal Steel International for TKSE.

Jindal Steel is currently carrying out detailed due diligence to assess whether to launch a formal binding offer for TKSE, Germany's largest steelmaker with sales of 10.7 billion euros ($12.46 billion) last year.

($1 = 0.8587 euros)

(Writing by Miranda Murray
Editing by Madeline Chambers)

((Miranda.Murray@thomsonreuters.com;))

FRANKFURT, Nov 25 (Reuters) - Worker representatives met at ThyssenKrupp Steel on Tuesday to start a process of agreeing on job security and co-determination if the German group is sold to India's Jindal Steel International, the IG Metall union said.

"A fair and best-owner agreement is intended to provide security for employees, locations, co-determination and the future of TKSE in the event of a possible sale to the Jindal Group," said the union in a statement.

Jindal Steel has made an indicative bid for TKSE, Europe's second-largest steelmaker.

(Reporting by Christoph Steitz
Writing by Madeline Chambers
Editing by Miranda Murray)

((Madeline.Chambers@thomsonreuters.com; +4930220133578;))

Adds context in paragraph 2, Thyssenkrupp comment in 3

FRANKFURT/DUESSELDORF, Oct 28 (Reuters) - The head of Thyssenkrupp's steel business, Dennis Grimm, has decided to leave the division, two people familiar with the matter said on Tuesday, robbing the unit of its leader as talks over a sale to India's Jindal Steel International continue.

Grimm has been the spokesperson for Thyssenkrupp Steel Europe's (TKSE) executive board, or its de facto CEO, since August 30, 2024, after the division's former CEO Bernhard Osburg stepped down following a clash with Thyssenkrupp's leadership over strategy.

TKSE and Thyssenkrupp declined to comment.

Grimm's departure comes as Thyssenkrupp is deepening talks with Jindal Steel International over a sale of TKSE, with a delegation from the Indian company scheduled to step up due diligence of the business this week, sources told Reuters.

German newspaper Bild, citing company sources, first reported Grimm's departure, saying it was the result of a falling out with Thyssenkrupp CEO Miguel Lopez over the strategic course of the business.

(Reporting by Christoph Steitz and Tom Kaeckenhoff. Editing by Thomas Escritt and Mark Potter)

((ludwig.burger@thomsonreuters.com;))

FRANKFURT, Oct 20 (Reuters) - The CEO of Thyssenkrupp TKAG.DE said on Monday that talks with Jindal Steel International over the Indian group's takeover interest in Thyssenkrupp's steel business were intensive and constructive but a deal would likely be a matter of months.

"Talks are ongoing - very intensively," CEO Miguel Lopez told Reuters at the Frankfurt stock exchange, attending the stock market debut of the TKMS TKMS.DE naval vessels unit.

"We'll see what outcome we'll have over the next few months," he added.

(Reporting by Tilman Blasshofer and Christoph Steitz, Writing by Ludwig Burger, editing by Kirsti Knolle)

((ludwig.burger@thomsonreuters.com;))

Adds detail on Kretinsky in paragraph 3, share benchmark in paragraph 4, deputy supervisory board chairman in paragraphs 10-11

By Christoph Steitz and Tom Käckenhoff

FRANKFURT/DUESSELDORF, Oct 2 (Reuters) - Czech billionaire Daniel Kretinsky has agreed to sell his 20% stake in Thyssenkrupp's TKAG.DE steel unit and scrap plans for a joint venture for the business, both parties said in a joint statement, paving the way for a possible deal with Jindal Steel.

The sale ends protracted 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.

Kretinsky has already given up his seat on TKSE's supervisory board, along with another senior executive of his EP Group, a company spokesperson said.

Shares in Thyssenkrupp rose as much as 3% to hit their highest level in nearly six years before trading 0.7% lower at 1208 GMT.

CLEAR PATH FOR TALKS WITH JINDAL STEEL

It now creates momentum for Thyssenkrupp to intensify talks with India's Jindal Steel International, which last month submitted an indicative bid for all of TKSE, a volatile business its parent has sought to divest.

The statement said that Kretinsky's EP Group "respects Thyssenkrupp AG's preference to concentrate on discussions with Jindal Steel International" and that it would be reimbursed for the purchase price it paid to Thyssenkrupp for the TKSE stake.

While both parties have never disclosed the purchase price, people familiar with the matter have put it at around 140 million euros ($164 million).

The news comes amid growing uncertainty over the future of steelmaking in Europe, as the sector contends with cheap Chinese imports, high energy costs and delays to hydrogen-based decarbonisation in one of the most polluting industries.

Kretinsky's EP Group and Thyssenkrupp had the aim of eventually forming a 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.

"The management board can and must concentrate fully on the talks with Jindal," said Juergen Kerner, Thyssenkrupp's deputy supervisory board chairman and a senior member at IG Metall, Germany's biggest trade union.

"In particular, details on financing must now be clarified quickly, but above all thoroughly. The employee side expects to be involved at an early stage."

($1 = 0.8511 euros)

(Reporting by Christoph Steitz and Tom Kaeckenhoff; Additional reporting by Markus Wacket; Editing by Matthias Williams and Louise Heavens)

((christoph.steitz@thomsonreuters.com; +49 30 220 133 647))

HARARE, Sept 17 (Reuters) - Zimbabwe has agreed a $455 million, 15-year concession deal with the Africa-focused unit of India's Jindal Steel JINT.NS for the refurbishment of a 920 megawatt coal-fired power plant, the energy minister said.

The work on six ageing units at the Hwange thermal power station is expected to take four years, July Moyo said during a post-cabinet briefing late on Tuesday. Jindal Africa will recover its investment from revenue generated by electricity sales from the plant.

The Southern African nation currently only meets around half of its 2,000 MW electricity demand and experiences frequent, extended power cuts due to diminishing capacity at its ageing power plants.

The 1,520 MW Hwange plant, the country's largest, was upgraded in 2023 with the commissioning of two units, which added 600 MW. But its older units were built in the 1980s and are operating at a third of their capacity due to breakdowns.

The Kariba hydropower station, built in the 1960s, completed a 300 MW upgrade in 2018, which boosted its capacity to 1,050 MW. However, its generation capacity has in recent years been affected by drought.

(Reporting by Chris Takudzwa Muronzi; Editing by Nelson Banya and Joe Bavier)

((Nelson.Banya@thomsonreuters.com;))

Adds current level of pension liabilities tied to steel in paragraph 5

By Christoph Steitz and Tom Käckenhoff

FRANKFURT/DUESSELDORF, Sept 16 (Reuters) - Thyssenkrupp TKAG.DE has received a non-binding bid for its steel unit from a division of Indian conglomerate Naveen Jindal Group, the German company said on Tuesday, the latest twist in the group's years-long effort to dispose of the business.

News of the indicative bid for Thyssenkrupp Steel Europe (TKSE) - Germany's largest steelmaker which made 10.7 billion euros ($12.6 billion) in sales last year - sent shares in its parent up as much as 7.9% to their highest level in nearly four and a half years. They closed up 4.4%.

Thyssenkrupp said it would closely examine the offer "particularly with regard to economic sustainability, the continuation of the green transformation and employment at our steel sites".

It did not provide any financial details about the bid, which comes as the German submarines-to-car parts group is seeking to partially divest most of its businesses in a bid to become leaner and more focused.

A sale to Jindal Steel International, the international steel arm of the Naveen Jindal Group, would be a success for Thyssenkrupp after previous attempts to divest TKSE all failed, with pension liabilities of around 2.7 billion euros remaining a key hurdle.

Jindal Steel International, in a separate statement, said its offer would secure steel production in Germany, include the completion of a green steel production site by TKSE in Duisburg, and a more than 2 billion euro commitment to establish additional electric arc furnace capacity.

"Our goal is to preserve and grow Thyssenkrupp's 200-year industrial legacy and help transform it into Europe's largest integrated low emission steelmaker," Narendra Misra, director of European Operations at Jindal, said.

Jindal Steel International, which last year acquired Czech steelmaker Vitkovice Steel, would also be prepared to take on TKSE's pension liabilities in a deal, a person briefed on the matter said.

Thyssenkrupp last year sold a 20% stake in TKSE to Czech billionaire Daniel Kretinsky, with the aim of eventually selling a further 30% stake to eventually create a 50-50 joint venture.

Powerful labour union IG Metall has criticised the move, saying Kretinsky had not provided information about his strategic plans as a co-shareholder.

Kretinsky's EPCG division declined to comment.

Thyssenkrupp's deputy supervisory board chair and senior IG Metall member Juergen Kerner said news about the offer was good and that deeper discussions should start as soon as possible.

($1 = 0.8468 euros)

(Reporting by Christoph Steitz; Editing by Rachel More and Susan Fenton)

((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))

Aug 12 (Reuters) - Jindal Steel Ltd JNSP.NS:

• JINDAL STEEL Q1 CONSOL NET PROFIT 14.94 BILLION RUPEES

• JINDAL STEEL AND POWER Q1 CONSOL TOTAL REVENUE FROM OPERATIONS 122.94 BILLION RUPEES

Source text: [ID:]

Further company coverage: JNSP.NS

((Reuters.Briefs@thomsonreuters.com;;))

NEW DELHI, Aug 11 (Reuters) - The Indian alloy steel producers' association has filed an anti-dumping petition with the federal trade ministry against cheap imports from China, its senior executive told Reuters on Monday.

India, the world's second-biggest producer of crude steel, has the capacity to make around 18 million to 20 million metric tons per annum of alloy steel, which is used in the auto, defence and aerospace sectors.

"China is selling wire rods of alloy steel at very low prices, and imports have gone up considerably in the last three years, hurting the local alloy steel producers," said Anil Dhawan, director general, Alloy Steel Producers Association of India (ASPA).

Alloy steel wire rods are mainly used for automobiles and their components, Dhawan said.

Dhawan said the anti-dumping petition was filed on July 31 with the Directorate General of Trade Remedies, which falls under the Ministry of Commerce and Industry.

The ASPA's members include JSW Steel JSTL.NS, India's biggest steelmaker, as well as Jindal Steel JNSP.NS, Kalyani Steels KLSL.NS, and Mukand Sumi Special Steel, among others.

In April, India imposed a 12% temporary tariff on some steel imports, locally known as a safeguard duty, to curb a surge in cheap shipments primarily from China.

(Reporting by Neha Arora; Editing by Sonali Paul)

((neha.dasgupta@tr.com;))

April 30 (Reuters) - Jindal Steel And Power Ltd JNSP.NS:

• JINDAL STEEL AND POWER Q4 CONSOL NET LOSS 3.39 BILLION RUPEES

• JINDAL STEEL AND POWER Q4 CONSOL TOTAL REVENUE FROM OPERATIONS 131.83 BILLION RUPEES

• JINDAL STEEL - DIVIDEND 2 RUPEES PER SHARE

Source text: ID:nBSE6YdBpS

Further company coverage: JNSP.NS

((reuters.briefs@thomsonreuters.com;))

March 27 (Reuters) - Jindal Steel And Power Ltd JNSP.NS:

• JINDAL STEEL - DECLARED SUCCESSFUL BIDDER FOR SARADHAPUR JALATAP EAST COAL BLOCK

• JINDAL STEEL - DECLARED THE HIGHEST BIDDER WITH A REVENUE SHARING OF 10%

Source text: [ID:]

Further company coverage: JNSP.NS

((Reuters.Briefs@thomsonreuters.com;;))