Mumbai: Tata Sons Ltd is all set to acquire Tata Steel on June 23. Tata Sons Ltd is an asset company of India’s salt-to-software Tata conglomerate.
Tata Sons will purchase about 83.6 million stakes in Tata Motors at or around the current cost of the capital on the schedule of the designed acquirement.
It mentioned “reformation of asset collection” as the motive for the intended deal.
On Friday, Tata Motors equity ended at 455.75 rupees in Mumbai trading.
Tata Sons possessed 28.71 percent of Tata Motors at the closing stage of March, on the other hand, Tata Steel holds 2.9 percent in the vehicle maker.
Tata Sons involved 29.75 percent of Tata Steel at the ending of March, on the other hand, Tata Motors possessed a 0.46 percent share in the steelmaker, as per stock exchange data.
Indian media claimed that Tata Sons decided to decrease cross-holdings among group companies.