Tata Steel announced that it has completed the acquisition of debt-ridden Bhushan Energy Ltd.
German industrial conglomerate Thyssenkrupp said on Friday that it was scrapping merger plans with steel giant Tata and would slash 6,000 jobs worldwide in a structural shakeup. The reason: the European Commission’s reluctance to the merger.
Gemini Edibles & Fats India Private Limited (GEF India) proposes to set up a vegetable oil refinery at the Tata Steel Industrial Park, Gopalpur, in Ganjam district of Odisha.
An Indian appeals tribunal has ruled against Tata Steel Ltd’s effort to dismiss rival bids for Bhushan Power and Steel, boosting JSW Steel Ltd’s offer to buy the indebted steel maker.
The National Company Law Appellate Tribunal on February 4 turned down Tata Steel’s request to consider its bid as the ‘most legitimate” one for Bhushan Power & Steel.
In another move aimed at staying focused on the home market, Tata Steel said on Monday that it will exit majority equity stakes in its Southeast Asia businesses, which will fetch it $327 million.
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