India's Tata Steel Limited has acquired equity shares in its Singapore-based wholly-owned subsidiary T Steel Holdings Pte Limited for $340 million, the company said in a statement on Wednesday, September 30.
It said that the board of directors of Tata Steel Limited has approved the infusion of an additional $2 billion in the subsidiary, enhancing aggregate investment up to $26.21 billion, which will support the company's global operations.
The infusion is part of Tata Steel's broader strategy to consolidate its international holdings under T Steel Holdings Pte. Ltd. By increasing the aggregate investment limit to $26.21 billion, while the parent company retains flexibility to deploy further capital as needed for operational requirements or expansion initiatives within its foreign subsidiary structure.
