Tata Steel acquires SFML's ferro alloy assets for Rs 155 crore

Tata Steel told media that it will acquire ferro-alloys producing assets from Odisha-based Stork Ferro and Mineral Industries Private Limited (SFML), based in Odisha, for Rs 155 crore in an all-cash deal.

About which an asset transfer agreement (ATA) has been signed between the two companies, a regulatory filing said.

Tata Steel said it has executed the Asset Transfer Agreement with Stork Ferro and Mineral Industries Private Limited (SFML) to acquire specified assets for ferroalloy production. The asset purchase transaction would be carried out for a cash consideration of Rs 155 crore and the applicable tax.

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