Tata Steel transfers stakes to reorganize Indian assets

Tuesday, 05 January 2021 16:32:59 (GMT+3)   |   Istanbul
       

Indian steel producer Tata Steel Limited has announced that it has transferred the 51 percent stake it holds in India-based Jamshedpur Continuous Annealing and Processing Company Private Limited, a joint venture with Nippon Steel, to Tata Steel Downstream Products Limited (TSDPL), a wholly owned subsidiary of the company.

Tata Steel Limited has also transferred the 50 percent stake it holds in Tata BlueScope Steel Private Limited, a joint venture with BlueScope Steel, to TSDPL.

The moves are in line with the company’s strategy to reorganize its India footprint into four clusters, to drive scale, synergies and simplification along with creating value for all stakeholders.

The transactions were completed on January 1, 2021.


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