Acquisitions26 Feb 2025, 03:04 am
TATA STEEL LTD. Acquires 10,726.85 Crore Stake in T Steel Holdings Pte. Ltd.
AI Summary
TATA STEEL LTD. has acquired 788,53,50,318 ordinary equity shares of T Steel Holdings Pte. Ltd. (TSHP) for USD 1,238 million. This investment will be used to repay external debt in Tata Steel’s offshore subsidiaries and to support the restructuring in Tata Steel UK Limited. TSHP is a wholly owned subsidiary of Tata Steel Limited, primarily involved in holding equity shares of indirect overseas subsidiaries. The transaction was carried out in compliance with all applicable laws and was approved by the RBI under the automatic route.
Key Highlights
- TATA STEEL LTD. acquires 10,726.85 crore stake in T Steel Holdings Pte. Ltd.
- The acquisition will be used to repay external debt in Tata Steel’s offshore subsidiaries and to support the restructuring in Tata Steel UK Limited.
- T Steel Holdings Pte. Ltd. is a wholly owned subsidiary of Tata Steel Limited, primarily involved in holding equity shares of indirect overseas subsidiaries.
- The transaction was carried out in compliance with all applicable laws and was approved by the RBI under the automatic route.