Tata Steel to acquire Usha Martin steel business for Rs 4,700 crore

Tata Steel signed definitive agreements to acquire the steel business of Usha Martin Ltd, including a 1 mtpa alloy-based manufacturing capacity in Jamshedpur, an iron-ore mine, a coal mine and captive power plants. The cash consideration is between Rs 4,300-4,700 crore.

“It is proposed that the steel business of UML will be acquired subject to transaction closing, for a cash consideration of between Rs 4,300-4,700 crore.”newindianexpress.com

• 2 sources
• newindianexpress.comTata Steel to take over Usha Martin steel business with Rs 4,700 crore acquisitionFrom our online archiveSep 23, 2018
• auto.economictimes.indiatimes.comTatas may invest Rs 300-400 crore in Usha Martin in FY20: Report, ETAutoSep 26, 2018

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