Tata Steel has acquired 457,71,14,428 equity shares in T Steel Holdings Pte. Ltd (TSHP) for USD 460 million (₹4,054.66 crore). This acquisition makes TSHP a wholly-owned foreign subsidiary. The company disclosed this development which marks an increase in their investment in the Singapore-based entity. This move is expected to streamline operations and enhance strategic control over TSHP.
Complete Acquisition of TSHP
Tata Steel announced that it has acquired full equity stake in T Steel Holdings Pte. Ltd (TSHP). This strategic move reinforces Tata Steel’s control over its foreign subsidiary.
Transaction Details
The acquisition involves 457,71,14,428 equity shares of TSHP, with a face value of USD 0.1005 per share. The total consideration for this acquisition amounts to USD 460 million, equivalent to ₹4,054.66 crore.
TSHP Status Post-Acquisition
Following this transaction, TSHP will remain a wholly-owned foreign subsidiary of Tata Steel, allowing for better integration and management of its overseas operations.
Source: BSE
