ThyssenKrupp, Tata set eyes on Europe

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Tata Steel and ThyssenKrupp plan to transfer shares and assets of their respective businesses in Europe to a 50-50 joint venture holding company that will be one of the biggest steel joint ventures (JVs).

The proposed new company, to be named ThyssenKrupp Tata Steel, will be positioned as a pan-European high-quality flat steel producer. The transaction is subject to merger control clearance in several jurisdictions, including the EU.

Until completion of the JV process, ThyssenKrupp Steel Europe and Tata Steel in Europe will operate as separate companies and as competitors. Only after completion of the JV process will ThyssenKrupp Steel Europe and Tata Steel be integrated as one company in Europe.

The JV will be managed as one integrated business through a holding company based in Amsterdam.

Slaughter and May partners Robin Ogle, Padraig Cronin and Andrew McClean advised Tata Steel on the deal. Hengeler Mueller advised Tata Steel on German aspects of the deal with a team including Karsten Schmidt-Hern and Christof Jäckle. De Brauw partners Mark Rebergen and Anja Mutsaers advised Tata Steel from Amsterdam.

AZB & Partners advised Tata Steel on Indian law issues. The team comprised partners Darshika Kothari, Nilanjana Singh and Anand Shah.

Partners Ralph Wollburg and Kristina Klaaßen-Kaiser led a team from Linklaters to advise ThyssenKrupp.