Tata Steel Ltd. (TATASTEEL, 500470), announced the acquisition of about 17.83 billion equity shares of Singapore-based T Steel Holdings Pte. Ltd. at $0.157 per share, totaling approximately $280 million.
Post-acquisition, T Steel Holdings will continue as a wholly owned subsidiary of the India-based company.
Currently, Tata Steel's stock is moving down 0.65 percent, to INR 153.70 on the National Stock Exchange.
For comments and feedback: editorial@rttnews.com