M&A

M&A

Tata Steel to acquire Odisha-based SFML's ferro alloy assets for Rs.155-Cr

BSE Disclosure  

Publicly listed Tata Steel has executed an Asset Transfer Agreement with Stork Ferro and Mineral Industries Private Limited (SFML) for acquisition of itemized assets to produce ferro alloys. The asset purchase transaction will be carried out for cash consideration of INR 155 crore plus applicable tax. SFML has two 16.5 MVA furnaces with annual production capacity of 53 kilo tonne per annum (KTPA) located at Balasore, Odisha.