Joint venture to deleverage its balance sheet Recently, Tata Steel has entered into an agreement with German steelmaker Thyssenkrupp AG (TK) to merge its European steel operations (TSE) by forming a joint venture company Thyssenkrupp Tata Steel to be based in Amsterdam, Netherlands. This joint venture will place the said company as the 2nd largest pan-European flat steel player. The merger is expected to provide synergy benefits to the tune of 400-600m p.a. on a steady state basis through integration of commercial & administration functions, procurement & logistics, R&D; spends, among others. Further this will aid in deleveraging the balance sheet as the company's debt of EUR2.5b will be...