Tata Steel Gets Cci Nod To Acquire Additional 23 Stake In Tm International Logistics

The Competition Commission of India has approved Tata Steel’s acquisition of an additional 23% stake in TM International Logistics from IQ Martrade. The transaction will raise Tata Steel’s holding to 74%, making it the majority shareholder, while NYK Europe will retain 26%. IQ Martrade will exit the joint venture.

CCI has cleared Tata Steel’s acquisition of IQ Martrade’s 23% stake in TM International Logistics, raising its holding to 74%.

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