Indain Tata Steel acquires Bhushan Energy
3 Jun 2019 16:33 reported by Sammi Lin
According to the report, Indian Tata Steel had done the acquisition of Bhushan Energy Limited (BEL). It was announced after the approval of purchasing Bhushan Energy with Rs 800 crore from the National Company Law Tribunal (NCLT).
99.99% of the total equity share capital of Bhushan Energy would be possessed by Tata Steel. BEL was reported a Rs 2,336 crore gross debt during the fiscal year 2015-16. During last May, the industry also merged Bhushan Steel Ltd., the parent company of Bhushan Energy, and changed the name to Tata Steel BSL Ltd.
Tata Steel is one of the primary steelmakers in the world with annual crude steel deliveries at about 27.5 million tons.
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