Tata Steel to Acquire BlueScope’s Stake in Indian Joint Venture for Up to $130 Million

BlueScope expects to record $179 million in net proceeds after taxes and fees in the second half of FY26.

SEATTLE (Scrap Monster): Australian steel producer BlueScope Steel Ltd. has announced plans to withdraw from its Indian joint venture, Tata BlueScope Steel Private Limited (TBSPL), by selling its entire 50% stake to partner Tata Steel Ltd. The deal, valued at up to $130 million, will make TBSPL a fully owned subsidiary of Tata Steel upon completion.

In a filing to the London Stock Exchange, Tata Steel confirmed that its Board of Directors approved the acquisition during a meeting held yesterday. The proposed transaction remains subject to customary closing conditions and regulatory clearances, including approval from the Competition Commission of India and other relevant authorities.

Once finalized, the transaction will end the 50:50 joint venture between the two global steel majors, formed to manufacture and market coated steel products and building solutions in India and neighboring regions.

BlueScope anticipates generating net proceeds of approximately $179 million after taxes and related costs in the second half of FY26. The sale is expected to yield a net profit after tax of around $70 million.

According to BlueScope, the divestment will allow the company to sharpen its strategic focus and reinvest in growth-oriented projects across its core business segments worldwide.

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