M&A

M&A

Tata Steel to hike stake in logistics JV TMILL to 74%

Press Release   Economic Times   TM International Logistics Ltd  

Publicly listed, Mumbai-based Tata Steel is to acquire the entire 23% equity stake held by JV partner, IQ Martrade, in TM International Logistics Ltd (TMILL). The deal will increase Tata Steel’s stake in TMILL from 51% to 74%. The third partner, NYK Europe, will continue to hold its existing 26% stake in the JV.Established in 2002, TM International Logistics Ltd provides integrated logistics and supply chain solutions, including port operations, rail and road transportation, freight forwarding, warehousing and cargo handling. The company serves steel, automotive, mining and other industrial sectors, supporting the movement of raw materials and finished products.

For FY25, TMILL had reported about INR 1,337 Cr in Operating Income and about INR 23 Cr in PAT.