BlueScope Steel, Australia has completed the sale of its entire 50% stake in Tata BlueScope Steel (TBSL) to its JV partner, Tata Steel on 31 December 2025 for a consideration of INR 1,100 crores.
The TBSL JV was formed in 2005. Over the years, TBSL became a significant provider of coated and painted steel products in India, serving the building and construction markets.
ILP advised its long standing client BlueScope Steel, Australia on the overall strategy, documentation, signing and closing of the transaction including competition law related matters and receiving CCI approval. The ILP team was led by a team of Partners Gopika Pant & Vineet Gupta and assisted by Counsels Akshay Grover and Pranav Mody and Senior Associates Vinayek Mehra and Varun Pandey and Associates Sakshi Raj, Shilpi Tulsyan and Kaushiki Keshari.
P&A Law Offices led by Partners Anand Pathak and Shashank Gautam and team advised Tata Steel with respect to competition law aspects as well as applying for and receiving CCI approval.
Argus Partners led by Partners Adity Chaudhury, Ankur Arora, Armaan Patkar and assisted by Associates Milind Anand, Anoushka Mani and Suvanwesh Das advised Tata Steel on the deal.
Lakshmikumaran & Sridharan advised BlueScope Steel on tax related aspects of the transaction.