REG - Tata Steel Limited - TSLP accepts LOA for acquisition of NINL

TATA SteelAnnouncement

09/02/2022 14:40

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RNS Number : 2019B  Tata Steel Limited  09 February 2022

February 9, 2022

 

London Stock Exchange

London

 

Dear Madam, Sir,

 

Subject: Tata Steel Long Products Limited, subsidiary of Tata Steel Limited,
accepts the Letter of Award for acquisition of Neelachal Ispat Nigam Limited

 

This is with reference to our letter dated January 31, 2022, whereby we had
informed that Tata Steel Long Products Limited ('TSLP') a subsidiary of Tata
Steel Limited ('the Company'), has been identified as the winner of the
bidding process to acquire 93.71% stake in Neelachal Ispat Nigam Limited
('NINL') in accordance with the process being run by Department of Investment
and Public Asset Management ('DIPAM'), Government of India.

 

On February 2, 2022, DIPAM issued the Letter of Award to TSLP for acquisition
of 93.71% equity stake of NINL. TSLP has today i.e. February 9, 2022, accepted
the said Letter of Award.

 

The process for acquisition of NINL is likely to be completed within the next
couple of months in accordance with the timelines announced by DIPAM.

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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