Deals
Thyssenkrupp, Tata Said to Offer Selling Plants in U.K., Spain
- The companies proposed asset sales to win regulatory approval
- The European Commission is expected to now review their offer
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Thyssenkrupp AG and Tata Steel Ltd. have offered to sell assets in Belgium, Spain and the U.K. to win antitrust approval for a European steel joint venture, according to a person familiar with the matter.
The two companies proposed divesting two automotive steel plants in Spain and Belgium to meet demands by European regulators, said the person, who asked not to be identified because the offer isn’t public. The companies may also sell a U.K. steel operation, but plan to keep the main Port Talbot mill, the person said.