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.

Tata Steel would consider taking a majority stake in its planned European steel joint venture with Thyssenkrupp after the business is publicly listed, according to sources. The joint venture would create Europe's second-largest steel group.