According to Tata Steel, merger is part of its continuing journey to simplify group holding structure.

The objective is to consolidate the subsidiary businesses within Tata Steel to drive simplification of management and also have a sharper focus on the business," Mr Chatterjee told PTI.

In 2018, Tata Steel through its wholly-owned subsidiary Bamnipal Steel Ltd (BNPL) completed the acquisition of controlling stake of 72.65 per cent in Bhushan Steel Ltd (BSL).

This covers benefits on cost takeouts, leveraging the synergies on procurement, commercial and financing synergies."

All the businesses of the amalgamating companies have a good future.
Source: NDTV
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