Tata Steel, Corus to set up integration panel; Corus to be delisted from April

03 March 2007

Mumbai: Tata Steel and Corus will set up an integration committee to oversee the merger of the two, after which the Anglo-Dutch firm would be delisted, Tata Sons chairman Ratan Tata said.

Post integration, both Tata Steel and Corus would virtually be a single company, he said.

"Tata Steel is not at the present moment planning a listing in an overseas market. I think in terms of the present schedule, we should be the owners of Corus stock sometime in early April if the shareholders pass or accept our bid in a meeting that is schedule to take place next Wednesday," he said.

Speaking on the sidelines of the centenary celebrations of Tata Steel, Tata said the committee would be formed soon and would comprise representatives of both Corus and Tata Steel.

Ratan Tata and Corus chairman James Leng were in Jamshedpur to mark the Founder''s Day celebration of Tata Steel.

Speaking at the centenary celebrations of Tata Steel, managing director B Muthuraman also said Corus would be delisted from April this year.