New Delhi: The Competition Commission of India (CCI) has approved Tata Steel Ltd’s proposal to acquire sole control of Tata BlueScope Steel Pvt. Ltd. by purchasing the remaining 50% equity stake held by BlueScope Steel Asia Holdings Pty Ltd.
With the clearance, Tata Steel will move from joint control to full ownership of Tata BlueScope Steel, a 50:50 joint venture between Tata Steel Downstream Products Ltd and BlueScope Steel Australia’s subsidiary. The transaction involves Tata Steel acquiring BlueScope’s entire shareholding in the company.
Tata Steel, a listed public sector steelmaker, has a diversified presence across steel manufacturing, mining and downstream value-added products catering to sectors such as automotive, construction, infrastructure, agriculture and energy. Tata BlueScope Steel operates in the coated steel segment, offering metallic coated, galvanised, pre-painted and colour-coated steel products used largely in roofing, walling and cladding applications.
The CCI said the proposed combination does not raise competition concerns in the relevant markets and has therefore been approved. A detailed order of the Commission will follow.
The approval is expected to help Tata Steel consolidate its downstream coated steel operations, sharpen strategic focus and streamline decision-making in a segment that has seen rising demand from construction and infrastructure projects.