* Tata Steel IJmuiden B.V. (TSIJ), an indirect wholly-owned foreign subsidiary of Tata Steel Limited, has executed a Share Purchase Agreement on November 14, 2025, to acquire 100% equity stake in LAG Velsen B.V. * LAG Velsen B.V. is an entity to be incorporated by Vattenfall Power Generation Netherlands B.V., specifically for this transaction. * The acquisition is valued at an agreed purchase price of up to €140 million (approximately ₹1,450 crore). * Upon completion, LAG Velsen B.V. will become an indirect wholly-owned foreign subsidiary of Tata Steel Limited. * The acquisition includes three Velsen Power Plants (VN24, VN25, and IJmond01) with a total electric capacity of 770 megawatts. * These power plants currently process and convert gases from TSIJ’s steel-production activities into electricity, supplied back to TSIJ under a tolling contract expiring on December 31, 2025. * Vattenfall is not extending the tolling contract, making this acquisition crucial for Tata Steel Nederland’s operations to ensure continued conversion of its process gases. * The transaction requires competition approval from The Netherlands Authority for Consumers and Markets (ACM) and approval under the Dutch Electricity Act from the Netherlands Investment Screening Agency (BTI). * LAG Velsen B.V. is yet to commence operations; the turnover for its demerged assets was €110.8 million for calendar year 2024. * The transaction is expected to be completed by January 1, 2026.
