Tata Motors completes transfer of Defense business to Tata Advanced Systems

05 Apr 2021 Evaluate

Tata Motors has completed the transfer of its Defense business with effect from April 1, 2021 to Tata Advanced Systems (TASL) for an upfront consideration of Rs 227.7 crore (which is subject to closing balance sheet adjustments). The transfer has been completed through a slump sale as per Scheme of Arrangement approved by National Company Law Tribunal at Mumbai and Hyderabad.

The company will continue to play a significant role in the value chain by supplying chassis and aggregates to TASL for developing specialized defense applications, while continuing to supply pure civilian PVs and CVs to defense forces directly. TASL will invest in enhancing design & development capabilities for expanding the global footprint and providing specialist, high value-added, futuristic solutions to defense customers in and outside India. The consolidation will yield benefits in the form of operational and financial synergies helping deliver better value for both the entities.

Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.


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