Thyssenkrupp bid a litmus test for Jindal scion

Jindal Steel International’s pursuit of Thyssenkrupp Steel Europe marks a crucial moment for the group, and for its next-generation leader-in-waiting, Venkatesh Jindal.

- Nehal Chaliawala & Dipali Banka

At just 29, the Yale and Harvard-educated son of chairperson Naveen Jindal is part of the core team currently in Germany negotiating the high-stakes acquisition.

The team also includes Naveen Jindal, Narendra Misra, Jindal's director of European Operations, and a handful of other executives.

The third-generation successor of steel magnate OP Jindal has his task cut out for him. The negotiating team has to convince the German government and labour unions for the deal. Labour unions have a significant sway over mergers and acquisitions in Europe. The German government will also need comfort before allowing the sale of a strategically important asset and a large employer to a non-European owner.

The team from Jindal Steel has started canvassing with unions for the deal, said a third person, who is based in Germany. All three people spoke on the condition of anonymity as they are not authorized to speak to the media.

Jindal Steel International has not yet submitted a firm financial offer for Thyssenkrupp Steel Europe as it has to evaluate the value of the asset after going through its books.