March 24, 2017 9:35 AM ET

Industrial Conglomerates

Company Overview of Tata Sons Limited

Company Overview

Tata Sons Limited engages in automotive, steel, consultancy, power, communication, chemical, trading and distribution, beverage, air conditioning and engineering service, hotel, auto component, development, infrastructure, financial service, insurance, retail, digital infrastructure, teleservices, and retail store businesses. It manufactures cars and utility vehicles, and watches and jewelry, as well as parts for automotive and aerospace sectors; and produces steel, soda ash, crop nutrients, crop protection products, iodized salt, fertilizers, specialty chemicals, tea, coffee, and water. The company also provides IT services, consulting, and business solutions; Internet routers and wholesale...

Bombay House

24, Homi Mody Street

Mumbai,  400 001

India

Founded in 1868

Phone:

91 22 6665 8282

Fax:

91 22 5665 8160

Key Executives for Tata Sons Limited

Executive Chairman
Age: 53
Chief Operating Officer, Senior Vice President of Finance and Company Secretary
Age: 61
Head of Marketing & Customer Centricity and Head of Tata Brand
Age: 54
Chief Ethics Officer
Age: 48
Chief of Tata Sustainability Group
Compensation as of Fiscal Year 2016.

Tata Sons Limited Key Developments

Tata Sons Names Ankur Verma to Chairman's Office

Tata Sons hired investment banker Ankur Verma to join the Chairman's Office, effective March 14. Verma joins from Bank of America Merrill Lynch, where he was the Managing Director for its investment banking division.

Tata Sons Settles $1 Billion Dispute with NTT Docomo

Tata Sons announced that it had reached agreement with NTT Docomo to pay the $1.18 billion to settle a long-running legal dispute. Docomo paid $2.6 billion for a 26.5% stake in Tata Teleservices in 2008 but triggered an option to sell it six years later after incurring losses and deciding to withdraw from India. Under the terms of the tie-up, if Docomo pulled out Tata agreed to find a buyer for the Japanese firm's stake, or buy back the investment itself at half the price. When Tata failed to find a buyer and India's central bank rejected Tata's offer to purchase the stake as "illegal", the NTT Docomo approached an international arbitration court. The court in June last year ordered Tata to pay $1.17 billion in damages. Tata Sons' failure to pay up was believed to be a factor in shareholders' decision to remove Cyrus Mistry as chairman last October. Tata said it had reached agreement in principle to pay Docomo $1.18 billion, without giving details about why they had come to an agreement now. The companies have approached the Delhi High Court to authorise the settlement and over-ride the Reserve Bank of India's objections to the firms fixing the price of the stake sale years in advance.

Tata Sons Has The Power To Force Mistry Family To Sell Stake

Tata Sons Limited's articles of association gives it the power to ask shareholders to sell their holdings by passing a special resolution, a rule that can be potentially used to force Mistry family firms to exit the Tata group holding firm amid a bitter battle. Mint learns that the Tata group has spoken to a large Indian state-owned financier, a foreign state-owned investment company and one of the largest pension funds in the world. The names of the firms are not being disclosed because they declined to confirm their interest. A Tata Sons spokesperson declined to comment. The Mistry family firms-Cyrus Investments Ltd. and Sterling Investment Corporation Private Limited- own 18.4% of ordinary shares in Tata Sons. That is less than the shareholding needed to block a special resolution, which requires 75% support.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
September 15, 2016
Tata SIA Airlines Limited
Private Placement
June 2, 2016
Tata SIA Airlines Limited
Merger/Acquisition
March 28, 2016
AirAsia (India) Private Limited
 

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