TATA
July 8, 2016
‘Tho Secretary, Listing Department ‘The Manager, Listing Department
BSE Limited National Stock Exchange of India Limited
Phiroze Jesjeebhoy Towers, Exchange Plaza, Sth Foor, Pit No. CI,
Dalal Steet, 6G Block, Bandra-Kurla Complex, Banda (E),
‘Mumbai - 400 001 Mumbai - 400 051,
Maharashtra, India Maharashtra, Inca,
‘Satin Code: 500470 ‘Symbol TATASTEEL
Dear Sirs/Madam,
‘Sub: Pross Reloas
Please find enclosed the press release tiled “Tata Steel announces developments
‘regarding the strategy for its European businesses”
‘This daclosure is nade in compliance with Regulation 30 ofthe SEBI (Listng Obligations
‘and Disclosure Requirements) Regulations, 2075,
This is for your formation and records
‘Yours fatty,
Tata Stee! Limited
Paaseetont
ae
Parvatheesam K
Company Secretary
Enct As above
TATA STEEL LIMITEDTATA STEEL TATA
Torimmediate use SESS Ry
Tata Stee! announces developments regarding the strategy for its European businesses
‘Mumbai, uly 8 2036: The Board of Tata Stee Ld today announced developments to further progres the strategy ofits
Eurcpean businesses
(On 29 March 2016 Tata Steel announced it would explore strategic alternatives for ts UK busines, incluing the
potential sale ofthe business asa whole or in parts. The company and its advisers then contacted around 200 potential
financial and industrial investors around the world to explore their interest inthe business. The company has also
‘deeply engaged withthe Governments ofthe UK and Wels at every stage ofthe process.
‘On $ May, seven expressions of interest were taken forward tothe nest sage of 9 possible sale process. The seven
‘companies were ven access to extensive business information and management team presentations in order for them
‘to progress ther interest and submit refined bids
Bidders were engaged in detaled discussions withthe Tata Steel Europe management. The bids received have been
«aretuly considered in detail on the basis of ther commercial value and prospect forthe future sustainably of the UK
sites fora ange of stakeholders. The bids have also been reviewed inthe light ofthe uncertainties caused by the UX
referendum and the outcome ofthe UK Government's coneutation onthe Bris Steel Penson Scheme.
Takig the above issues Into account, the Board of Tata Steel has decided to also look at alternative and more
‘sustainable portfolio solution forthe European businesses. Consequently, Tata Stee has now entered into discussions
with strategc players in the steel industry, including thyssenkrupp AG, Ocussions have been iiiated to explore the
feashity of strategic collaborations through a potential oint venture, However, the tas ae current ata preliminary
‘tage and there can be no certainty ofa transaction ae Une wala depends on consuitaton and negoltons wth
various stakeholders.
ous chetteriee, Group Executive Director and Tata Stee’s Execute Director for Europe, sald: "We have initiated
conversations for a strategic collaboration for ow European businesses. A poten strategie combination of strip
Products busneses offers the best prospects to create a premium, worlé-class strip stel business with the scale and
Scope of capabilities to compote sucessful on the global sage”
JTATA STEEL LIMITED
Sout SnenaurenaaseTATA STEEL TATA
Torimmediate ise ESSEC
‘Ne Chatterjee continued: "ts too eariy to give any assurances about the succes ofthese tals. uch succes, especially
te inclusion of the UK business inthe potential joint venture, would depend on several issues including finding &
"table outcome forthe British Ste! Pension Scheme, succesful dicusions withthe UX trade unions and the delivery
‘of plc natives and other support from the Governments ofthe UK and Wales. These are necessary for reaiing 4
statanable business in the UK. The management team and the employees ofthe company are abo continuing to
improve the underyng performance of our European business which is very encouraging. We continue tobe actively
‘engaged with both the UK and the Welsh Governments, the trade union and the Peason Trustees.”
‘Mr Chatterjee further commented: “As part ofthis development in our Europes strategy, we will now also begin
Separate processes forthe potenti sale of the South Yorkshire-based Specialty Stes business and the Hartlepool pipe
mils other than the 2.nch Tube Mil) inthe UK Both of these operation are large independent of the strip products
supply chain with their own specific characteris Tata Stel UX has already receive interest from several bidders for
‘pect Sees andthe pipe mills in each case and a formal process wil be commending shorty,”
Hans Fischer, Chef Executive Officer of Tata Stel Europe, commented: “This is 9 welcome development, not ust for
Tika Steel but also forthe European steel sector more broadly. Although there's much work stil to be dane on any
states collaboration fm confident thatthe direction isthe right ane — towards higher performance and capability to
serve customers. We wil continue to communicate with our employees and inform an consult both works council and
‘rede unions as these discussions develop”
‘The Tata Stee! Ld Board today aso reviewed the performance of the European business. The Board continues to
support the business so that Tata Stel Europe can secure the supply chain to customers ofthe premium steel products
{hey demand and maintain strong relationships with other stakeholders
Any further announcement onthe matter wil be made at an appropiate tim in the utue
sends.TATA STEEL
Fer mia enquires contact:
India: Kubin Sur Te: +91 657 64 5512/+92 92310 52397, ema: kulvinsui@tatasteel com
Europe: Tata Stel Europe pres office, +44 (0}203 8176 693, malt: tatasteelpressoffce @hanoverconimscom
‘About Tata Stes European operations
Tata Steel's one of Europe's leaing steel producers, with steelmaking in the UK and Netherlands, and manufacturing
Dlnts across Europe. The company supplies hgh-qualty steel products to the most demanding markets, including
canstruction, automotive, packaging, lifting & excavating, energy an aerospace. Tata Stel works with customers to
‘develop new steel products that gve them a competitive edge. The combined Tata Steel group ls one ofthe work's
largest steel producers, with a ste! capacty of more than 28 milion tonnes and 7,600 employees across five
continents
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‘The document contains statements that may constitute a forward looking statements under applicable secuites laws
{and regulations. These statements are based on the curtent expectations and certain assumptions of Company's
‘management, of which many may not be under our control and that actual evert/transsction may vary from the
Proposal. The Company nether intends, nor assumes any obligation, to update or reise these forward-looking
_stotementsin ight of developments which lifer fom those anticipated