CURRENT AFFAIRS

Detailed explanation-1: -Tata Steel UK today announced the completion of the sale of its Long Products Europe business to Greybull Capital LLP.

Detailed explanation-2: -Tata Steel Europe Ltd. (formerly Corus Group plc) is a steelmaking company headquartered in London, England, with its main operations in the United Kingdom and the Netherlands. The company was created in 2007, when Tata Group took over the British-Dutch Corus Group.

Detailed explanation-3: -Corus was acquired by Tata Steel in April 2007 in a transaction which created one of the world’s largest steelmakers, with a major presence in Europe as well as Asia.

Detailed explanation-4: -Tata Steel Long Products Limited (TSLP), formerly known as Tata Sponge Iron Limited, is in the business of manufacturing high alloy steel, primarily for the auto sector and wire rope industry.

Detailed explanation-5: -Those seven metal companies of Tata group that will be merged with Tata Steel are Tata Steel Long Products Limited, The Tinplate Company of India Limited, Tata Metaliks Limited, TRF Limited, The Indian Steel & Wire Products Limited, Tata Steel Mining Limited and S & T Mining Company Limited.