CCI approves acquisition of 23% equity shareholding of TM International Logistics by Tata Steel Ltd

The Competition Commission of India (CCI) has approved the acquisition by Tata Steel Ltd. of a 23% equity shareholding in TM International Logistics Limited (TMILL) currently held by IQ Martrade Holding Und Management GmbH. Following this transaction, IQ Martrade will exit TMILL and cease to be a shareholder. Tata Steel and NYK (Europe) B.V. will hold 74% and 26% equity shareholding in TMILL, respectively. TMILL is a public limited company that services Tata Steel's logistics and cargo transportation needs, covering railway cargo transportation, port operations, cargo handling, and freight forwarding.