M&A

M&A

Tata International to transfer trading biz into new JV with Japanese, Swiss firms

Mint  

Mumbai-based Tata International will transfer its current trading business into a new joint venture with Mitsubishi Corporation and Mercuria Holdings that will focus on trading energy products, metals, freight, agricultural commodities, and construction materials. Tata International will hold a 40% stake in the JV, while Mitsubishi and Mercuria will each hold 30%.Tata International reported a turnover of INR 30,500 crore and a profit of INR 270 crore in FY23. The company operates in over 25 countries and has a presence in leather and leather products, distribution, and manufacturing sectors.