thyssenkrupp AG and Jindal Steel International have agreed to pause negotiations regarding a potential stake sale in thyssenkrupp’s steel business. The decision comes as the initial conditions and assumptions of the deal have changed significantly in recent months.

According to the company, the steel unit has made good progress in its restructuring, and operating conditions have improved, creating better growth potential going forward.

thyssenkrupp said its long-term goal remains to develop the steel business as an independent entity, and the pause will allow both sides to reassess their strategy under the new conditions.