Tata Steel Expands Holdings with Major Acquisition in Singapore Arm

Tata Steel has acquired 116 crore equity shares in its Singapore-based subsidiary, T Steel Holdings Pte Ltd, for USD 182 million. This acquisition ensures that TSHP remains a wholly-owned subsidiary of Tata Steel. The strategic move was disclosed in an exchange filing on Wednesday.

Tata Steel has announced a significant acquisition of 116 crore equity shares in its Singapore-based arm, T Steel Holdings Pte Ltd. The deal, valued at USD 182 million (Rs 1,528.24 crore), involves shares priced at USD 0.157 each. This transaction was confirmed in an exchange filing on Wednesday.

With this acquisition, T Steel Holdings Pte Ltd will remain a wholly-owned subsidiary of Tata Steel. This strategic move aims to strengthen Tata Steel's international presence and operational efficiency.

The acquisition highlights Tata Steel's commitment to expanding its global footprint and increasing its investment in key international markets, ensuring continued growth and stability within the company.

(With inputs from agencies.)