Target Entity: TM International Logistics Limited (TMILL)
Type of Deal: Acquisition of minority stake (23%) from existing joint venture partner
Stake/Capacity: 41,40,000 equity shares of face value ₹10 each, representing 23% equity stake
Deal Value: Aggregate consideration of ₹335 crore
Funding Source: Not disclosed in the document
Financial Impact: Not disclosed in the document
Timeline: Transaction completed on August 20, 2026. Competition Commission of India approval received on August 18, 2026. Share Purchase Agreement executed on May 15, 2026.
Strategic Rationale: Not explicitly disclosed in the document
Approval Status: Completed. Required and received approval from Competition Commission of India.
Ownership Structure Change: Post-transaction, Tata Steel holds 74% equity stake (previously 51%) and NYK Holding Europe B.V holds 26% equity stake in TMILL. TMILL has become a subsidiary of Tata Steel Limited.
Joint Venture Changes: The Joint Venture Agreement dated July 26, 2001 between Tata Steel and IQ Martrade Holding Und Management GmbH, and the Deed of Adherence dated November 26, 2009 amongst Tata Steel, TMILL, NYK, and IQ stand terminated with effect from August 20, 2026.
Reference Regulation: This disclosure is made in compliance with Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
