Key Developments: Tata Steel Ltd (TISC.BO)

TISC.BO on Bombay Stock Exchange

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Latest Key Developments (Source: Significant Developments)

TATA Steel’s European business signs MOU with Klesch Group
Wednesday, 15 Oct 2014 09:58pm EDT 

TATA Steel Ltd:Announces the signing of a Memorandum of Understanding (MOU) with Klesch Group to undertake detailed due diligence and negotiations for the potential sale of its Long Products Europe business and associated distribution activities.Says the memorandum covers several UK-based assets including Tata Steel’s Scunthorpe steelworks, mills in Teesside, Dalzell and Clydebridge in Scotland, an engineering workshop in Workington and a rail consultancy in York, as well as other operations in France and Germany.  Full Article

Dyesol Ltd signs letter of intent with Tata Steel UK
Sunday, 12 Oct 2014 05:28pm EDT 

Dyesol Ltd:Signs agreement with Tata Steel UK.Proposed distribution agreement with Tata Steel UK (TSUK) provides Dyesol with first right of refusal to distribute its proposed steel substrate based third generation photovoltaic products through TSUK's product distribution channels.In order to meet its commercial objective of bringing Building Integrated Photovoltaics (BIPV) to the UK and European markets.Agreement has term of five years and provides Dyesol with priority to exploit TSUK's distribution network should Dyesol develop viable product and TSUK decide that solar PV meets its strategic objectives.Agreement does not impose exclusivity upon Dyesol and it is free to explore other avenues of distribution, particular in markets where TSUK does not have meaningful presence.Terms of this letter of intent are commercial-in-confidence.Dyesol and TSUK have agreed that details of distribution agreement, including any warranty provisions, will be determined at time of entering binding distribution agreement.  Full Article

TATA Steel Ltd signs contracts to supply pipes to Subsea 7
Monday, 11 Aug 2014 10:10am EDT 

TATA Steel Ltd:Tata Steel signs series of contracts with Subsea 7 to supply undersea pipes to four separate North Sea projects.Four contracts, signed over the past year and worth an estimated 10 mln pounds in total, will see Tata Steel supply in excess of 55 km of pipe weighing more than 9,000 tonnes.  Full Article

TATA Steel Ltd shuts down Odisha plant on raw material shortage-Business Standard
Friday, 8 Aug 2014 09:28am EDT 

TATA Steel Ltd:Has shut down its 50,000 tonnes per annum ferroalloys plant at Bamnipal in Keonjhar district of Odisha due to unavailability of raw material-Business Standard.The raw material crisis is precipitated by closure of the its Sukinda chrome ore mines, where the work has been suspended since May 17, this year, because of non-renewal of lease.  Full Article

TATA Steel Ltd announces dual tranche debut US dollar bond offering of $1.5 bln
Thursday, 24 Jul 2014 11:24pm EDT 

TATA Steel Ltd:Says dual tranche Reg S issuance of $1.5 bln of unsecured bonds in international markets.Issue comprises $500 mln 4.85 pct. unsecured bonds due on Jan. 31, 2020 and $1 bln 5.95 pct. unsecured bonds due on July 31, 2024.By Abja Investment Co Pte Ltd, (the issuer) wholly owned subsidiary of Tata Steel Ltd incorporated in Singapore.Issue is guaranteed by Tata Steel Ltd.Bonds are rated BB+ by Fitch and BB by S&P and will be listed on Frankfurt Stock Exchange.  Full Article

TATA Steel Ltd update on divestment of The Dhamra Port Company Limited
Monday, 23 Jun 2014 06:59am EDT 

TATA Steel Ltd:With reference to the earlier announcement dated May 16 regarding the press release on divestment of stake in The Dhamra Port Company Limited, Tata Steel Ltd has now informed BSE that L&T Infrastructure Development Projects Limited.Says Tata Steel Limited and Adani Ports and Special Economic Zone Limited had signed share purchase agreement dated May 16 for sale of 100 pct stake in The Dhamra Port Company Limited.Says transaction has been successfully completed.  Full Article

TATA Steel Ltd may raise funds-Business Standard
Tuesday, 17 Jun 2014 08:40am EDT 

TATA Steel Ltd:Will seek shareholders nod to raise up to 140.00 bln Indian Rupees through privately placed debt securities in domestic as well as global markets-Business Standard.The board of directors at its meeting approved various proposals including raising of funds and increasing the borrowing limit.  Full Article

TATA Steel Ltd announces amalgamation
Wednesday, 11 Jun 2014 08:51am EDT 

TATA Steel Ltd:Says amalgamation between Tata Steel Limited and Tata Metaliks Limited and Tata Metaliks DI Pipes Limited and their respective shareholders and creditors held on May 16.  Full Article

TATA Steel Ltd announces dividend payment date
Wednesday, 4 Jun 2014 08:48am EDT 

TATA Steel Ltd:Says that the dividend for the year ended March 31, when sanctioned, will be paid on and from Aug. 19, 2014.  Full Article

Adani Ports and Special Economic Zone to acquire 100 pct stake in Dhamra Port Co Ltd from L&T Infrastructure Development Projects and Tata Steel
Friday, 16 May 2014 05:17am EDT 

Adani Ports and Special Economic Zone Ltd:Executes definitive agreement with L&T Infrastructure Development Projects Limited and Tata Steel Limited to acquire 100 pct stake in the Dhamra Port Co Limited (DPCL) at an enterprise value of 55 bln Indian rupees (5500 crores Indian rupees).  Full Article

UK minister says Tata steel unit sale a commercial matter

LONDON, Oct 16 - The British government, responding to concerns about possible job losses, said a possible sale by Tata Steel of a loss-making division of its European operations was a commercial decision for the two companies involved.

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