CCI Approves Tata Steel’s Full Takeover of Tata BlueScope Steel
The Competition Commission of India (CCI) recently shared a press release regarding Tata Steel Limited’s proposed acquisition.
The Competition Commission of India (CCI) has allowed Tata Steel to fully take over Tata BlueScope Steel Pvt. Ltd. Tata Steel plans to buy BlueScope’s remaining 50% stake.
Tata Steel is a publicly listed company that makes and sells steel and steel-related products. Its products are used in many everyday industries like farming, automobiles, building and construction, energy, and infrastructure projects.
Apart from making steel, Tata Steel is also involved in mining iron ore and producing materials such as iron ore pellets, sponge iron, and crude steel.
The Target company is jointly owned by two parties in equal share. BlueScope Steel Limited of Australia owns 50% of the company through its fully owned subsidiary, while Tata Steel owns the other 50% through its fully owned subsidiary, Tata Steel Downstream Products Limited (TSDPL).
The company works in the coated steel business. It makes steel products that have a protective or coloured coating on the surface. Its products include metallic coated steel and pre-painted or colour-coated steel. These are sold either as steel coils or as finished items, and are commonly used for things like roofs, walls, and building cladding.
