The proposed combination pertains to the acquisition by Tata Steel Ltd. (Tata Steel) of the entire shareholding comprising 23% equity shares held by one of the existing joint venture partners, i.e., IQ Martrade Holding Und Management GmbH (IQ Martrade) in TM International Logistics Limited (TMILL), and the consequent exit of IQ Martrade from TMILL.
Post consummation of the proposed combination, IQ Martrade shall cease to be a shareholder of TMILL, and Tata Steel and NYK (Europe) B.V. (NYK Europe) shall hold 74% and 26% equity shareholding in TMILL, respectively.
