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Thyssenkrupp says steel JV stake to be consolidated at equity

Reuters - UK Focus

FRANKFURT, Sept 20 (Reuters) - Germany's Thyssenkrupp (Amsterdam: TH6.AS - news) will account for its 50 percent stake in a steel joint venture with Tata Steel (BSE: TATASTEEL.BO - news) using the at-equity method once the planned deal closes, flattering its balance sheet, it said on Wednesday.

"When the joint venture comes into effect, this will bring about a significant improvement in key balance sheet ratios for Thyssenkrupp AG (IOB: 0O1C.IL - news) , most notably in the equity ratio and in gearing (ratio of net financial debt to equity)," it said.

Thyssenkrupp and Tata Steel earlier announced they had signed a memorandum of understanding to combine their European steel operations. (Reporting by Georgina Prodhan; Editing by Christoph Steitz)