May 10, 2019 / 12:48 PM / 4 months ago

Tata Steel to explore all options for European unit after ThyssenKrupp JV falls apart

FILE PHOTO: A logo of Thyssenkrupp AG is pictured at the company's headquarters in Essen, Germany, November 21, 2018. REUTERS/Thilo Schmuelgen/File Photo

MUMBAI (Reuters) - India’s Tata Steel Ltd said on Friday it will explore all options for its European steel business after its proposed joint venture with German steel giant ThyssenKrupp AG failed to secure regulatory approval.

Tata Steel will explore finding a new partner for the asset and a partial sale of assets in Europe, Koushik Chatterjee, the chief financial officer of Tata Steel said on a conference call with media on Friday.

The company also remains committed to de-leveraging the balance sheet of the European business, Chatterjee said.

Reporting by Promit Mukherjee; Editing by Euan Rocha

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