Sale of Speciality Steel UK Limited

SN.

Particulars

Details

1.

The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division of the listed entity during last Financial Year

FY17 numbers of the business sold: Turnover: GBP 210 million. Net assets: GBP 99.5 million.

2.

Date on which the agreement for sale has been entered into

February 9, 2017

3.

The expected date of completion of sale / disposal

May 1, 2017

4.

Consideration received from such sale / disposal

Total consideration of GBP 100 million

5.

Brief details of buyers and whether any of the buyers belong to the Promoters / Promoter Group/Group Companies. If yes, details thereof;

The Liberty House Group is an international business specializing in metals trading and the manufacture and distribution of steel and advanced engineering products. It operates from four hubs in London, Dubai, Singapore and Hong Kong and has presence in more than 30 countries. The buyer does not belong to Tata Steel's promoter / promoter group / group company.

6.

Whether the transaction would fall within Related Party Transaction? If yes, whether the same is done at "arm's length"

No this transaction would not fall within related party transaction.

7.

Additionally, in case of a slump sale, indicative disclosures provided for amalgamations/merger shall be disclosed by the listed entity with respect to such slump sale

This is a share sale