India’s Tata Steel Limited has acquired additional 1.78 billion equity shares in its Singapore based subsidiary T Steel Holdings Limited entailing an investment of $280 million, a company statement said on Thursday, August 29.
The strategic stake purchase is part of Tata Steel’s efforts to enhance its global presence and operational efficiency, it said.
Post acquisition of the additional steel, T Steel Holdings will become a wholly owned subsidiary of Tata Steel Limited.
I graduated from the University of Kolkata with a degree in economics and have three decades of experience in reporting for leading print media publications, covering key manufacturing industries like iron and steel, energy (fossil and renewable), chemicals and petrochemicals and mining sectors (coal, bauxite, iron ore and copper). I work as a correspondent for SteelOrbis reporting on the Indian steel industry covering pricing and trade trends across the value chain, capacity creations and utilizations, corporate developments, government policy frameworks and industry related news.
08 Feb | Steel News
30 Jan | Steel News