Tata Steel on Tuesday completed the acquisition of all shares held by SAIL (Steel Authority of India) in S&T Mining, according to an exchange filing. Now, S&T Mining will become a wholly owned subsidiary of the Company.

“It is hereby notified that the Company yesterday, namely April 11, 2022, has completed the acquisition of all equity shares held by SAIL in S&T Mining,” said Tata Steel in the filing.

Tata Steel has entered into a share sale and purchase agreement with SAIL to acquire all of SAIL’s shares (50%) owned in S&T Mining.

Tata Steel Limited, on April 5, 2022, has entered into a Share Purchase Agreement with Steel Authority of India Limited (SAIL) to acquire all of SAIL’s shares (50%) owned in S&T Mining Company Limited (S&T Mining).

S&T Mining was established in 2008 with the objective of acquiring coal blocks, undertaking exploration, obtaining all government and regulatory approvals and licenses, mine development, extraction and mining of coal from identified blocks. However, S&T Mining has not been operational since FY19.

The acquisition is part of Tata Steel Group’s portfolio restructuring and simplification strategy.

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