India's Tata Steel Limited has acquired additional 1.78 billion equity shares in its Singapore based subsidiary T Steel Holdings Limited entailing an investment of $280 million, a company statement said on Thursday, August 29.
The strategic stake purchase is part of Tata Steel's efforts to enhance its global presence and operational efficiency, it said.
Post acquisition of the additional steel, T Steel Holdings will become a wholly owned subsidiary of Tata Steel Limited.
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