General Announcement::Proposed transfer of Defense and Aerospace business of Company's subsidiary to TASL

Issuer & Securities

Issuer/ Manager
TATA MOTORS LIMITED
Securities
TATA MOTORUS$500M4.625%N200430 - XS1121907676 - 19RB
TATA MOTORUS$250M5.75%N241030 - XS1121908211 - 19SB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
01-Apr-2019 14:13:50
Status
New
Announcement Sub Title
Proposed transfer of Defense and Aerospace business of Company's subsidiary to TASL
Announcement Reference
SG190401OTHRFLAK
Submitted By (Co./ Ind. Name)
H K Sethna
Designation
Company Secretary
Effective Date and Time of the event
01/04/2019 17:00:00
Description (Please provide a detailed description of the event in the box below)
Proposed transfer of Defense and Aerospace business of Company s subsidiary to Tata Advanced Systems Limited ("TASL")

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and further to our letter vide Sc no. 15033 dated May 3, 2018 ( stock exchange letter ) by which it was informed that the Board of Directors at its meeting held on May 3, 2018, had approved (subject to the requisite regulatory and other approvals), sale of Company s shareholding in TAL Manufacturing Solutions Limited (TAL), a wholly-owned subsidiary, to TASL ("TAL Divestment"), details of which was attached to said stock exchange letter as Annexure C.

In furtherance to above and as mentioned in the stock exchange letter - Annexure C, we would like to inform that the Company has availed requiste regulatory and other approvals and has on March 29, 2019, (i) sold its shareholding in TAL to TASL at an enterprise value of Rs. 625 crores for the Aerospace business and (ii) the Company has acquired the non aerospace business from TAL at a value of Rs. 10 lakhs.

This is for the information of the exchange and the members.

Attachments

TalSaleLetterToBseNSE.pdf
Total size =126K