Tata Steel has executed definitive agreements to acquire 100% equity shares of Brahmani River Pellets (BRPL) from Aryan Mining and Trading Corpn (AMTC) and other companies in the Moorgate Industries Group (MIG).
The transaction is based on an enterprise value of BRPL of Rs 900 crore plus closing adjustments and is subject to completion of certain condition precedents including regulatory approvals. The funding for the acquisition will be done from internal cash flows of company.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
