Thyssenkrupp may sell unit to Jindal Steel in phases

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 $2.9 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.