REG - Tata Steel Limited - Execution of definitive agreement for acquisition

TATA SteelAnnouncement

10/03/2022 17:15

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RNS Number : 4110E  Tata Steel Limited  10 March 2022

 

 

 

 

 

March 10, 2022

 

 

London Stock Exchange

London

 

Dear Madam, Sirs,

 

Sub:  Execution of definitive agreement
for acquisition of 93.71% equity shares in
Neelachal Ispat Nigam Limited through subsidiary
Tata Steel Long Products Limited

 

This has reference to our disclosures dated January 31, 2022 and
February 9, 2022.

 

 

This is to inform you that, Tata Steel Limited ('TSL') and Tata Steel Long Products Limited

('TSLP') have
today, i.e. March 10, 2022 executed a Share Sale and Purchase Agreement
with MMTC Ltd, NMDC
Ltd, MECON Ltd, Bharat Heavy Electricals Ltd, Industrial Promotion
and Investment Corporation of Odisha Ltd, Odisha Mining Corporation Ltd., President of India,
Government of Odisha, Neelachal Ispat Nigam
Limited ('NINL') for acquisition of 93.71%

equity shares in NINL. The acquisition will be done through TSLP,
a listed subsidiary of TSL.

 

The relevant details with respect to acquisition of 93.71% equity shares in NINL are given in

Annexure 1.

http://www.rns-pdf.londonstockexchange.com/rns/4110E_1-2022-3-10.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/4110E_1-2022-3-10.pdf)

 

 

This disclosure is being made in compliance with Regulation 30 of the
SEBI (Listing

Obligations and Disclosure Requirements) Regulations, 2015.

This is for your information and records.

 

 

 

 

 

 

 

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