Tata Steel Merger: Six subsidiaries will be merged in Tata Steel, board approved.
Tata Steel, the steel company of the country’s reputed Tata Group, will merge six of its subsidiaries with itself. This information has been given in a statement issued by the company on Friday. It has been told in the statement on behalf of the company that a proposal related to this has been approved by the company’s board on Thursday. The statement also said that the Board of Directors of Tata Steel has given the green signal to it after considering the plans for the proposed merger of six subsidiaries with Tata Steel.
These six companies will merge with Tata Steel
The subsidiaries of Tata Steel that will be merged are ‘Tata Steel Long Products Limited’, ‘The Tinplate Company of India Limited’, ‘Tata Metallics Limited’, ‘The Indian Steel and Wire Products Limited’, ‘Tata Steel Mining Limited’ and ‘Tata Steel Mining Limited’. S&T Mining Company Limited. ,
The two subsidiaries to be merged are wholly owned by Tata Steel.
Explain that Tata Steel holds 74.91 percent stake in ‘Tata Steel Long Products Limited’. Apart from this, it has 74.96 percent stake in ‘The Tinplate Company of India Limited’, 60.03 percent in ‘Tata Metallics Limited’ and 95.01 percent in ‘The Indian Steel & Wire Products Limited’, while ‘Tata Steel Mining Limited’ and ‘S&T Mining’. Company Limited’ are its wholly owned subsidiaries.
Along with this, the company’s board has also approved the merger of Tata Steel’s subsidiary ‘TRF Limited’ (34.11 percent stake) with Tata Steel Limited.
