The Competition Commission of India has approved Tata Steel Limited’s proposed acquisition of sole control in Tata BlueScope Steel Pvt. Ltd. by purchasing the remaining 50% equity shareholding currently held by BlueScope Steel Asia Holdings Pty Ltd.

The proposed combination entails Tata Steel Limited’s (Acquirer) acquisition of sole control in Tata BlueScope Steel Private Limited (Target) by purchasing the remaining 50% equity shareholding currently held by BlueScope Steel Asia Holdings Pty Limited (Seller) (Proposed Combination).

Tata Steel, a public limited listed entity is engaged in the production and sale of steel and related steel products, serving diverse sectors such as agriculture, automotive, construction, energy and infrastructure. It is inter alia also engaged in the mining of iron ore, and production of iron ore pellets, sponge iron and crude steel.

The Target is a 50:50 joint venture between BlueScope Steel Limited (BlueScope Australia), through its wholly owned subsidiary, the Seller and the Acquirer through its wholly owned subsidiary, Tata Steel Downstream Products Limited (TSDPL).

It operates in the coated steel segment, offering surface coated steel products (SCPs) and associated solutions. It’s product portfolio includes metallic coated or galvanised steel products (GPs), pre-painted and colour-coated steel products (CCPs) as coils or as end products with applications in roofing, walling and cladding.

Detailed order of the Commission will follow.

Tata Steel acquisition of Tata BlueScope Steel approved, acquiring remaining 50% to gain sole control. The Competition Commission approved Tata Steel Limited's acquisition of sole control of Tata BlueScope Steel Private Limited by purchasing the remaining 50% equity stake from BlueScope Steel Asia Holdings Pty Ltd, converting the existing 50:50 joint venture into a wholly owned subsidiary; the Target operates in the coated steel segment offering metallic coated and pre-painted steel products for roofing, walling and cladding.