India-based Tata Steel has announced that it will merge Tata Metaliks Limited (TML), India's largest producer of foundry grade pig iron, and the ductile iron pipes joint venture called Tata Metaliks Kubota Pipes Limited with itself.
According to Tata Steel's statement, Tata Steel's committee of directors and the board of directors of Tata Metaliks and Tata Metaliks Kubota Pipes have approved the merger. Tata Steel will have 50.9 percent of shares in Tata Metaliks.
Source:
http://www.steelorbis.com/steel-news/latest-news/tata-metaliks-to-merge-with-tata-steel-753303.htm
