Germany-based steelmaker ThyssenKrupp announced that it reached an agreement with Deutsche Bahn in mid-November in connection with a price-fixing cartel. ThyssenKrupp has agreed to pay damages to the German rail operator.

According to ThyssenKrupp, it may still be a few weeks before the agreement comes into force since the settlement is subject to approval by the responsible bodies of both parties. Details of the agreement are confidential. However, ThyssenKrupp assumes that there will be no further costs on top of the provisions already recognized.

As SteelOrbis previously reported, in July 2012 Germany's Federal Cartel Office Bundeskartellamt imposed a fine of €103 million on Essen-based ThyssenKrupp GfT Gleistechnik in the rail cartel case.