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Tata owns the UK's largest steelworks at Port Talbot
Tata Steel and ThyssenKrupp have agreed a merger which is able to create Europe's second-biggest steelmaker, after Arcelor Mittal.
German-owned ThyssenKrupp's supervisory board gave the go-ahead to the three way partnership on Friday.
The deal will imply Indian-owned Tata Steel's UK vegetation are merged into a pan-European enterprise with annual gross sales of about £13bn.
These embrace the UK's largest steelworks at Port Talbot in Wales.
"The joint venture with Tata Steel is an important milestone for the transformation of Thyssenkrupp to an industrials and service group and will lead to a significant improvement of the financial figures of Thyssenkrupp," the group stated in a assertion.