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The Economic Times
The Economic Times

Tata Steel gets CCI nod to acquire additional 23% stake in TM International Logistics

Tata Steel CCI The Competition Commission of India X Tata Steel Ltd India

The Competition Commission of India (CCI) on Tuesday approved Tata Steel Ltd’s proposed acquisition of an additional 23% equity stake in TM International Logistics Ltd (TMILL), paving the way for the steelmaker to become the majority shareholder in the logistics joint venture.

The proposed transaction involves Tata Steel acquiring the entire 23% stake held by existing joint venture partner IQ Martrade Holding Und Management GmbH. Following the completion of the deal, IQ Martrade will exit TMILL, while Tata Steel’s stake will rise to 74%.

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