# 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.

- Type: Acquisition
- Announced: 2018-09-22
- Where: Jamshedpur, India
- Value: $650.0M (47.0B INR)
- Status: announced
- Capacity: 1 million tonnes per annum
- Products: speciality steel, wire ropes
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Tata Steel](https://endata.com/companies/3546.md) (acquirer)
- [Usha Martin](https://endata.com/companies/34469.md) (target)

## Sources

- [newindianexpress.com](https://www.newindianexpress.com/business/2018/Sep/23/tata-steel-to-take-over-usha-martin-steel-business-with-rs-4700-crore-acquisition-1875913.html), 2018-09-23: "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."
- [auto.economictimes.indiatimes.com](https://auto.economictimes.indiatimes.com/news/auto-components/tatas-may-invest-rs-300-400-crore-in-usha-martin-in-fy20-report/65969495), 2018-09-26: "TSL will help in improving the blended EBITDA/tonne of the acquired business to Rs 8,000 per tonne by FY21, from the current Rs 6,800 per tonne."

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