Tata Steel announces equity partnership with Government of Quebec

For its Canadian Iron Ore Mines

Tata Steel Minerals Canada together with its parent companies signed definitive agreements for concluding investments of C$ 125 million and C$ 50 million as Debt with Government of Quebec's investment entities, Resources Quebec and Investment Quebec respectively, totalling C$ 175 million.

The investment will result in an 18% equity stake for Resources Quebec in Tata Steel Minerals Canada in line with the carrying value of the investment in Canadian iron ore assets for Tata Steel. Consequently, the shareholdings of Tata Steel and New Millennium will be adjusted to 77.68% and 4.32% respectively.

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