Tata Steel acquires majority stake in TPPL

Tata Steel has signed a definitive agreement to acquire a 50.01 per cent stake in Thriveni Pellets Private Limited (TPPL) for up to Rs 6.36 billion. The remaining stake will continue to be held by Lloyds Metals. TPPL has a 100 per cent stake in Brahmani River Pellet Limited, which operates a 4 million tonne per annum pellet plant and 212 km slurry pipeline.