Tata Steel Acquires 50.01% Stake in Thriveni Pellets for $636 Crore

Tata Steel Ltd has approved the acquisition of a 50.01% equity stake in Thriveni Pellets Private Limited from Thriveni Earthmovers Private Limited for a consideration of up to $636 crore. The acquisition is expected to be completed within 3-4 months, subject to necessary regulatory approvals. The acquisition aims to secure pellet making facility for Tata Steel in India. The transaction is not a related party transaction and promoter/promoter group/group companies of Tata Steel do not have any interest in the entity being acquired.