Tata Steel signs definitive agreements to acquire Brahmani River Pellets
At an enterprise value of Rs 900 crore plus closing adjustment
Tata Steel has executed definitive agreements to acquire 100% equity shares of Brahmani River Pellets from Aryan Mining and Trading Corpn and companies in the Moorgate Industries Group.The acquisition provides an upstream integration opportunity to Tata Steel to meet its metallic requirements and improving the feed mix for its Kalinganagar steel plant and Jamshedpur steel plant.
The acquisition of the Company is being made at an enterprise value of Rs 900 crore plus closing adjustment.
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