Thyssenkrupp's CEO confirmed that the German conglomerate is in "intensive" talks with Jindal Steel International about the Indian group’s interest in the steel business. He called it a "good collaboration", but warned that the discussions might take some time.

Last month, Jindal Steel International made an indicative offer for Thyssenkrupp Steel Europe, Europe's second largest steelmaker. This could lead to a sale of this business, which management has been seeking.

"Talks are continuing - very intensely," said CEO Miguel Lopez at the Frankfurt Stock Exchange, where he attended the stock market debut for the TKMS Naval Vessels unit, which has been spun off from Thyssenkrupp.

"We'll be able to see the outcome in the next few weeks," he said. Thyssenkrupp aims to restructure the steel industry and evaluate the Jindal offer, which includes investment commitments towards a large green steel plant.

As several attempts to divest this business in the past have failed, the sale of steel remains the most important part of Lopez’s restructuring agenda for storied German company.

The Jindal proposal ended the long-standing discussions between Thyssenkrupp, Daniel Kretinsky and other Czech billionaires over a joint venture of 50:50. (Reporting and writing by Ludwig Burger, Kirsti Knolle and Kirsti Donovan; editing by Kirsti Knolle; Kirsti Knolle)

(source: Reuters)