Tata Steel has executed a Share Purchase Agreement with Steel Authority of India (SAIL) on April 5, 2022, for acquisition of the entire equity stake of SAIL (50%) held in S&T Mining Company (S&T Mining) (hereinafter referred to as the ‘Transaction’). On completion of the acquisition, S&T Mining (presently a Joint Venture between SAIL and the Company), will become a wholly owned subsidiary of the Company. The acquisition is part of Tata Steel Group portfolio restructuring and simplification strategy.
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.
