Tata Steel Mega Merger: Merger of seven subsidiaries approved by board

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AHMEDABAD: The country's leading steel company, Tata Steel, has approved a major plan to merge seven subsidiaries with itself. In a statement on Friday, the company said that Tata Steel's board has given the green light to the merger proposal.

The board of directors of Tata Steel has considered and approved the plan of merger of seven subsidiaries with Tata Steel, Tata Steel said in a BSE filing. These subsidiaries include 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 S&T Mining Company Limited.

It may be mentioned here that Tata Steel has 74.91 percent stake in Tata Steel Long Products Limited. Apart from this, Tata Steel owns 74.96 per cent in Tinplate, 60.03 per cent in Tata Metallics and 95.01 per cent in Indian Steel & Wire Products, while Tata Steel Mining Limited and S&T Mining are its wholly owned subsidiaries. Ltd. in which it has 34.11 percent stake has also approved the merger proposal with Tata Steel Ltd.


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