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Thyssenkrupp and Tata Steel are getting closer to a 15 billion euros deal this week to combine their European badets with a global steel giant, sources close to the record said.
Negotiations to finalize the details are progressing well and a compromise has been found to resolve a valuation gap between companies, said three sources familiar with the subject.
The combination of Thyssenkrupp's and Tata Steel's European steel badets, announced for the first time in September of last year, will create the continent's second-largest steelmaker after ArcelorMittal with a cumulative business turnover of $ 15 billion. 39; euros.
Sources told Reuters this month that the trade-off options included a cash payment to Thyssenkrupp, a change in the joint venture's capital structure, a reduction of the debt to be transferred, or dividend limits to Tata Steel. for several years.
"The discussions are very constructive, they are in the final phase," said a source.
Negotiations are ongoing and may be postponed or collapse at the last moment, sources said, adding that both companies have a strong interest in reaching an agreement.
Representatives of Thyssenkrupp and Tata Steel did not comment on the issue.
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