{
  "id": 11114148,
  "title": "Jindal mulls $5 bn bid to get through EU steel door",
  "url": "https://urgent.news/2026/09/30/jindal-mulls-5-bn-bid-to-get-through-eu-steel-door",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-30T19:22:09.000Z",
  "source": {
    "name": "The Economic Times",
    "slug": "the-economic-times",
    "url": "https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/naveen-jindal-weighs-bid-for-eu-firm-celsa/articleshow/134601730.cms"
  },
  "original_language": "en",
  "account": "New Delhi: Jindal Steel chairman Naveen Jindal is considering a potential 5 billion euro acquisition of European steel maker Celsa, according to sources familiar with the situation. The move could be part of Jindal's strategy to gain entry into the European market and bolster his global steel business, following unsuccessful attempts to acquire Thyssenkrupp Steel. Jindal and Thyssenkrupp had been in exclusive talks for nine months before negotiations were abruptly halted earlier this year.\n\nJindal's interest in Celsa is reportedly driven by the company's impressive manufacturing capacity of 7.5 million tonnes of steel, along with its extensive portfolio of long steel products used in the construction industry. The proposed acquisition would be made through privately-owned overseas entities, separate from Jindal Steel's publicly-listed operations. If successful, this deal would significantly augment Jindal's steel-making capabilities. With the listed Jindal Steel's capacity of over 15 million tonnes and Jindal's privately-owned business in Oman, which boasts 3.2 million tonnes of steel capacity, the combined group's steel capacity could potentially surpass 25 million tonnes.\n\nJindal's acquisition would also include 5 million tonnes of direct reduced iron manufacturing capacity in Oman, which could serve as a valuable raw material source for any new steel-making ventures he pursues in Europe. The conglomerate also owns iron ore mines in Mozambique and Cameroon, further enhancing its resources.\n\nCurrently, Celsa is controlled by creditors, including Strategic Value Partners, Attestor, Deutsche Bank, and Golden Tree, who hold nearly the entire company. The business was revitalized after the creditors took over in 2023, injecting 1 billion euro through loans, bonds, and shares to support the recapitalization process. In the 2025 fiscal year, Celsa reported revenues of 3.3 billion euro and earnings before interest, tax, depreciation, and amortization of 396 million euro.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}