Since last fall, the negotiations between Thyssenkrupp and Jindal Steel International regarding the sale of Thyssenkrupp Steel Europe have been ongoing; no formal offer has been issued so far.

Flacks Group, the US investment fund, stated that it is prepared to make an offer to acquire Thyssenkrupp's steel business if the current sale negotiations fail.

Flakes Group primarily invests in global distressed assets and special circumstances investments. Last December, the Italian government selected Flakes to conduct exclusive negotiations for the sale of Acciaierie d'Italia (ADI).

Flakes stated that its primary focus remains on its Italian projects, but the group continues to monitor large steel companies.