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Tata Metal on Tuesday accomplished the acquisition of total stake held by SAIL (Metal Authority of India) in S&T Mining, in line with an change submitting. Now, S&T Mining will change into an entirely owned subsidiary of the Firm.
“That is to tell you that, the Firm has yesterday, i.e. April 11, 2022, accomplished the acquisition of the whole fairness stake held by SAIL in S&T Mining,” Tata Metal stated in a submitting.
Tata Metal has executed a share buy settlement with SAIL for acquisition of the whole fairness stake of SAIL (50%) held in S&T Mining.
Tata Metal Restricted has, on April 5, 2022, executed a Share Buy Settlement with Metal Authority of India Restricted (SAIL) for acquisition of the whole fairness stake of SAIL (50%) held in S&T Mining Firm Restricted (S&T Mining).
S&T Mining was integrated in 2008 for the aim of buying coal blocks, finishing up exploration, acquiring all authorities and regulatory approval and licenses, growth of mine, extraction and mining of coal from the recognized blocks. Nevertheless, S&T Mining has been nonoperational since FY19.
The acquisition is a part of Tata Metal Group portfolio restructuring and simplification technique.
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