Tata Steel Limited has successfully completed the acquisition of an additional 23% equity stake in TM International Logistics Limited (TMILL) for ₹335 crore. This transaction, finalized on August 20, 2026, brings Tata Steel’s total stake to 74%, making TMILL a subsidiary. The acquisition was approved by the Competition Commission of India and follows the terms of a prior share purchase agreement.
Tata Steel Completes Key Logistics Acquisition
Tata Steel Limited announced today, August 20, 2026, the successful completion of its acquisition of an additional 23% equity stake in TM International Logistics Limited (TMILL). This strategic move was made possible following the receipt of approval from the Competition Commission of India on August 18, 2026.
Transaction Details and Ownership Change
The transaction involved the purchase of 41,40,000 equity shares of TMILL, each with a face value of ₹10, for an aggregate consideration of ₹335 crore. The shares were acquired from IQ, a partner in the TMILL joint venture. With this acquisition, Tata Steel now holds a consolidated 74% equity stake in TMILL, with NYK Holding Europe B.V. (‘NYK’) holding the remaining 26%. Consequently, TMILL has officially become a subsidiary of Tata Steel.
Joint Venture Agreement Termination
As a direct result of this acquisition and the change in ownership structure, the Joint Venture Agreement dated July 26, 2001, between Tata Steel and IQ, along with the Deed of Adherence dated November 26, 2009, has been terminated, effective August 20, 2026.
Source: BSE
