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Tata Steel transfers its entire stake in Adityapur Toll Bridge Company

Capital Market 

To Tata Steel Utilities and Infrastructure Services

Tata Steel has transferred its entire stake i.e. 88.50% held in Adityapur Toll Bridge Company to Tata Steel Utilities and Infrastructure Services (TSUISL), a wholly owned subsidiary of the company.

The Company is reorganizing its footprint in India into 4 clusters to drive scale, synergies and simplification and to create value for all stakeholders. TSUISL has been identified as the anchor entity for the Utilities and Infrastructure Services cluster. Accordingly, the Company's investment(s) held in entities forming part of the Utilities and Infrastructure Services business are being consolidated with TSUISL.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sat, October 02 2021. 15:28 IST