Tata Steel sells stake in Tata Motors to Tata Sons
Tata Steel on Friday said it has sold almost all of its stake in Tata Motors to Tata Sons for more than Rs 3,780 crore.
According to a BSE filing, the steel major said that it sold 8,35,37,697 equity shares at a price of Rs 452.80 per share.
"The company has today, i.e., June 23, 2017, sold 8,35,37,697 equity shares of face value of Rs 2/- each of Tata Motors Limited to Tata Sons Limited at price of Rs. 452.80 per share (excluding brokerage and STT)," the regulatory filing said.
On June 17, Tata Sons had said that it will acquire the stake of Tata Steel held in Tata Motors.