What happened (CCI approval)
The Competition Commission of India (CCI) approved a proposed combination involving Tata Steel Ltd and TM International Logistics Ltd (TMILL). CCI’s approval relates to Tata Steel’s acquisition of the entire 23% equity shareholding in TMILL held by IQ Martrade Holding Und Management GmbH (IQ Martrade).
CCI’s approval also covers an ownership change in TMILL: after consummation of the combination, IQ Martrade will cease to be a shareholder of TMILL.
The announced post-consummation shareholding in TMILL is 74% for Tata Steel and 26% for NYK (Europe) B.V. (NYK Europe).
Background and earlier position (existing JV structure)
Before the proposed combination, TMILL operated as a joint venture with a 51:23:26 shareholding split among Tata Steel, IQ Martrade, and NYK Europe.
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