Tata Steel’s subsidiary, TM International Logistics Ltd (TMILL) has divested its entire stake in its wholly owned step down subsidiary TM Harbour Services Pvt. Ltd (TMHSPL) to Adani Ports and Special Economic Zone Ltd (APSEZ) for a total consideration of Rs. 106 crore in an all cash deal.
TKM Global GmbH, Germany, and International Shipping and Logistics FZE, Dubai, subsidiaries of TMILL, hold 74.18% and 25.82% equity shares in TMHSPL respectively.
TMHSPL with an annual turnover of about Rs. 29 crore provides Tug Services at Dhamra Port and owns three tug boats.
Read the article online at: https://www.drybulkmagazine.com/ports-terminals/08122016/tmill-divests-entire-stake-in-tm-harbour-services/