Thyssen-Krupp and Tata Steel have offered concessions to the European Commission for approval of the intended merger of their European steel activities. A spokesperson for the committee announced this, without mentioning further details about the commitments.
Brussels is currently investigating the matter thoroughly. The Committee fears that the merger will have negative consequences for competition in the steel market, with the possible consequence of undesirable price increases. The provisional deadline for the judgment has now been postponed to 5 June. A decision would initially be taken on 13 May.
Thyssen-Krupp reported that the commitments cover all the concerns of the committee. According to the company, these are “extensive and substantial” concessions to Brussels that are acceptable to the merger partners.
Last year the merger between the European divisions of the German Thyssen-Krupp and the Indian Tata Steel was finalized. The new company will be called Thyssen-Krupp Tata Steel and will be headquartered in Amsterdam. The former Hoogovens in IJmuiden will become part of the merger company.