JSW Steel Finalizes ₹4,158 Crore Acquisition of Thyssenkrupp Electrical Steel India

JSW Steel has completed the acquisition of Thyssenkrupp Electrical Steel India Private Limited, better known as tkES India, through its wholly owned subsidiary Jsquare Electrical Steel Nashik Private Limited for a total consideration of ₹4,158.6 crore.

The deal, announced on October 18, 2024, finally went through on January 30. tkES India has now become a wholly-owned subsidiary of Jsquare, a subsidiary of JSW JFE Electrical Steel Private Limited—a 50:50 joint venture between JSW Steel and Japan’s JFE Steel Corporation.

In addition to buying tkES India, the JSW Steel group has obtained agreements with various Thyssenkrupp group companies for acquiring technology licensing and transfer. Those agreements are operational from January 30, guaranteeing the unhindered transfer of intellectual property rights and manufacturing capability. This in turn enhances JSW Steel’s technological prowess. The transaction consists of ₹4,158.6 crore payable to acquire tkES India’s 100 percent equity interest and closing adjustments along with licenses and technology transfer costs from the Thyssenkrupp Group.

Electrical steel will come to the JSW Steel portfolio; this will make it a producer of electrical steel, which happens to be the most critical raw material need of the automotive, power, and renewable energy industries. It aligns very closely with the JSW Steel growth strategy based on increasing its portfolio of high-value steel products.

JSW Steel stock rose 1.80 percent to close at ₹954.5 on Thursday after the announcement.