Jindal Group Eyes First European Deal, Plans to Buy Czech-Based Vitkovice Steel for €150 Million

Indian conglomerate Jindal Group is in discussions to acquire a 100% stake in Czech-based company Vitkovice Steel, in a deal valued at around €150 million (approximately ₹1,000 crore). This acquisition is expected to be completed by the end of the current fiscal year through Jindal Group’s subsidiary, Jindal Steel International, according to industry sources.

If the deal goes through, it will mark Jindal Group’s first-ever acquisition in Europe, expanding its global footprint. The group, owned by industrialist Naveen Jindal, already has a strong presence in other regions such as Australia, Mozambique, and Oman, with key interests in sectors like steel, power, and mining.

Industry insiders confirm that active discussions are ongoing between the management teams of both companies. The sources have indicated that Jindal Group is looking to acquire a full 100% stake in Vitkovice Steel, furthering the company’s strategy to expand into European markets.

This acquisition will provide Jindal Group a solid entry into Europe, a region that is increasingly focusing on green steel initiatives. Europe has introduced the Carbon Border Adjustment Mechanism (CBAM) to promote the use of green steel, and this deal will help Jindal position itself favorably in this evolving market. In addition to this move, the group is also working on establishing a hydrogen-based steel manufacturing unit in Oman under its Vulcan Green Steel (VGS) initiative.

With this deal, Jindal Group aims to secure a stronger foothold in the European market, boosting its global portfolio while aligning with environmental goals, particularly in green steel manufacturing.