# Tata Steel completes acquisition of 72.65% stake in Bhushan Steel

Tata Steel, through its subsidiary Bamnipal Steel, completed the acquisition of a 72.65% controlling stake in Bhushan Steel for Rs 35,200 crore (approximately $5.2 billion), as part of a resolution plan under India's Insolvency and Bankruptcy Code.

- Type: Acquisition
- Announced: 2018-05-18
- Where: India
- Value: $5.20B (352.0B INR)
- Status: completed
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Thyssenkrupp](https://endata.com/companies/833.md) (partner)
- [Tata Steel](https://endata.com/companies/3546.md) (acquirer)
- [Tata Steel](https://endata.com/companies/3546.md) (partner)
- [Bamnipal Steel](https://endata.com/companies/31885.md) (acquirer)
- [Bhushan Steel](https://endata.com/companies/31886.md) (target)

## Sources

- [scroll.in](https://scroll.in/latest/879536/tata-steel-acquires-nearly-73-stake-in-bankrupt-bhushan-steel), 2018-05-19: "Tata Steel Limited hereby announces that Bamnipal Steel Limited, a wholly-owned subsidiary of Tata Steel has successfully completed the acquisition of controlling stake of 72.65% in Bhushan Steel Limited."
- [news.europawire.eu](https://news.europawire.eu/tata-steel-and-thyssenkrupp-ag-to-combine-their-european-steel-businesses-in-a-50-50-joint-venture-98789465/eu-press-release/2018/07/02/), 2018-07-02: "The joint venture not only addresses the challenges of the European steel industry. It is the only solution to create significant additional value of around 5 billion euros for both thyssenkrupp and Tata Steel due to joint synergies which cannot be realized in a stand-alone scenario."
- [globalslag.com](https://www.globalslag.com/news/832-tata-steel-and-thyssenkrupp-sign-joint-venture-agreements-for-merger), 2018-07-02: "The joint venture will create a strong pan European steel company that is structurally robust and competitive."
- [eurometal.net](https://eurometal.net/tata-steel-and-thyssenkrupp-agree-to-european-merger/), 2018-07-03: "This is a significant milestone for Tata Steel and we remain fully committed to the long-term interest of the joint venture company."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.