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Jindal's TKSE bid faces €2-3 bn pension, workforce hurdles
Mint Kolkata
|October 13, 2025
TKSE's European steel unit accounts for roughly half of thyssenkrupp’s pension obligations
Naveen Jindal visited Germany last week to meet thyssenkrupp Steel Europe's management and stakeholders to discuss the potential acquisition.
(REUTER)
Hefty pension obligations and workforce reorganization have emerged as key issues in Naveen Jindal’s bid to acquire thyssenkrupp Steel Europe (TKSE), as discussions continue over the Indian billionaire's potential role in the German steelmaker’s turnaround plans, said two people familiar with the matter.
At the heart of negotiations is how to manage TKSE's pension liabilities, estimated at €2-3 billion, and a potential workforce restructuring plan that could involve significant layoffs. Both issues have long deterred buyers and complicated thyssenkrupp’s efforts to offload its loss-making steel unit.
The European steel unit accounts for roughly €2.7 billion, or about half of thyssenkrupp’s pension liabilities of €5.4 billion, while employing just 28% of the group's workforce, one of the two persons said, seeking anonymity. "The firm and its employees are seeking assurances that these obligations will be met in full,” he added.
This story is from the October 13, 2025 edition of Mint Kolkata.
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