Tata Steel Limited has informed the Exchange about Acquisition of equity stake in TSN Wires Company Limited
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Tata Steel, through its Thailand-based wholly owned subsidiary SIW, has signed a Share Purchase Agreement to buy the remaining 40% stake in TSN Wires from Nichia Steel Works Ltd for a nominal THB 100 (about ₹270). Post-acquisition, TSN Wires will become an indirect wholly owned subsidiary of Tata Steel. TSN Wires is a Thailand-based steel wire manufacturer with 41 KTPA capacity, posting FY25 turnover of ₹275 crore but a loss of ₹10 crore and negative net worth. The deal is expected to close within a month, requires no regulatory approvals, and is a cash transaction.
This is a minor, low-cost consolidation move that makes an existing loss-making JV a wholly owned unit, potentially simplifying management and capturing full synergies. The negligible purchase price and the target's negative net worth mean limited financial impact for Tata Steel shareholders in the near term.