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Tata Executive: Spinoff of Merged European Business Will Be Later, Not Sooner
10/16/2017 - An anticipated spinoff of Tata Steel and thyssenkrupp’s European joint venture won’t happen for another two to three years, reports the Reuters news service.
According to Reuters, Tata Steel managing director T.V. Narendran said an initial public offering for the combined business is not in the offing.
Tata and thyssenkrupp announced last month that they had reached a preliminary agreement to combine thyssenkrupp’s steel unit with Tata Steel’s European operations in a joint venture.
Reuters has more here.
