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Tata Steel Limited executed a Share Purchase Agreement on April 5, 2022, with Steel Authority of India Limited (SAIL). The agreement facilitates Tata Steel's acquisition of SAIL's entire 50% equity stake in S&T Mining Company Limited.
| Date | 6 Apr 2022 |
| Time | 18:23:19 |
| Category | Acquisitions and alliances |
| ID | 5482H |
April 6, 2022
London Stock Exchange
London
Dear Madam, Sirs,
This is to inform you that, Tata Steel Limited ('Company') has, on April 5, 2022, executed a Share Purchase Agreement with Steel Authority of India Limited ('SAIL') for acquisition of the entire equity stake of SAIL (50%) held in S&T Mining Company Limited ('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 relevant details with respect to the Transaction are enclosed in Annexure A.
http://www.rns-pdf.londonstockexchange.com/rns/5482H_1-2022-4-6.pdf
This disclosure is being made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
This is for your information and records.