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Last Updated : May 31, 2019 05:20 PM IST | Source: Moneycontrol.com

100-Word Take | Tata Steel fortifies Bhushan Steel buy with Energy addition

Tata Steel adds heft to its Bhushan Steel acquisition with a successful bid for Bhushan Energy

Ravi Ananthanarayanan @ravi_ananth
Representative Image
Representative Image
Tata Steel’s acquisition of Bhushan Steel (now known as Tata Steel BSL) has been sweetened by its successful bid for Bhushan Energy. This company supplies power to Tata Steel BS’s Odisha plant, with two 150mw units and one 185mw unit set up within the plant. Tata Steel BSL also owns a 47.8percent stake in Bhushan Energy, and in 2017-18 it paid Rs589crore to it for buying power. An acquisition could get it power at cost, while gaining full control over a strategic asset. Since Tata Steel plans to merge Tata Steel BSL with itself, it may merge the power asset too at a later stage.

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First Published on May 31, 2019 05:20 pm
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