In a possible tweak to its strategy, Tata Steel may retain up to 30 percent of its shareholding in its South East Asian units, which had been put on the block.
Germany’s Thyssenkrupp and India’s Tata Steel are close to deciding who will lead their planned European steel joint venture, four people familiar with the matter said on December 7.
Tata Steel Ltd said on Wednesday it will continue its discussions with the European Commission after the body raised concerns over its planned steel joint venture with Thyssenkrupp.
India’s Tata Steel has not seen much impact due to the global “tariff war”, Chief Executive T.V. Narendran said on Thursday.
The company expects to complete the deal to buy Usha Martin within the next six months
Tata Steel, JSPL considering joining JVs between Indian and global steel plant equipment firms: Steel minister
Tata Steel and Jindal Steel & Power Ltd are considering signing joint venture agreements with Indian and international global steel plant equipment makers and technology providers like BHEL, HEC Ltd, Primetals Technologies
Tata Steel announced that it has executed definitive agreements for acquisition of the steel business of Usha Martin (UML) through a slump sale on a going concern basis. The closing of the acquisition is subject to fulfilment of various conditions under the agreements.
Tata Steel has started the process of cancelling power purchase agreements (PPAs) between Bhushan Steel, a company it acquired through bankruptcy resolution proceedings, and Bhushan Energy in a bid to cut costs.
Tata Steel has submitted a revised bid for Bhushan Power & Steel on Monday evening after the Supreme Court rejected their plea to stay a directive from higher bankruptcy court which last week allowed lenders to accept fresh bids from all applicants.
Tata Steel, the country’s oldest steel producer, saw it’s bottom line more than double as it reported a consolidated net profit at Rs 19.34 billion for the quarter ended June 30.
Bids for Bhushan Power & Steel Ltd (BPSL) may top Rs 21,000 crore as JSW Steel, Tata Steel and Liberty House of the UK are all set to make an aggressive pitch to acquire the company under the bankruptcy process.