New Delhi, August 18, 2026: The Competition Commission of India (CCI) has approved the acquisition of a 23% equity stake in TM International Logistics Ltd. (TMILL) by Tata Steel Ltd. The transaction involves Tata Steel acquiring the entire 23% shareholding held by existing joint venture partner IQ Martrade Holding Und Management GmbH, resulting in IQ Martrade’s exit from TMILL.
Following completion of the transaction, Tata Steel’s shareholding in TMILL will increase to 74%, while NYK (Europe) B.V. will hold the remaining 26%. The acquisition will alter the existing ownership structure of TMILL, which is currently a 51:23:26 joint venture between Tata Steel, IQ Martrade and NYK Europe.
Tata Steel is a listed public limited company engaged in integrated steel manufacturing, with operations spanning mining, steelmaking and downstream processing. The company is listed on both the Bombay Stock Exchange and the National Stock Exchange. TMILL was established as a joint venture primarily to meet Tata Steel’s logistics and cargo transportation requirements.
TMILL provides a range of logistics services across the value chain, including railway cargo transportation, port operations and cargo handling, freight forwarding and other value-added logistics services. The CCI approval clears the way for Tata Steel to consolidate its stake in the logistics venture as IQ Martrade exits the company.