Tata Steel has bought additional stake in New Millennium Capital Corporation of Canada. By this the stake of the Indian Inc. has gone up to 27.4% in the Canadian firm. The financial aspects of the buy out have been revealed.

Tata Steel has purchase this additional stake for about Rs 89.25 crore. This fact has been informed by Tata Steel in a statement to the media. New Millennium Capital Corporation is a Canadian mining company and Tata Steel is the leader in Indian steel industry.

Apart form those; Tata Steel has informed that its subsidiary Tata Steel Global Minerals Holdings has bought common shares in the New Millennium Capital Corporation. It has purchased around 14.2 million common shares in the Canadian mining entity. Tata subsidiary has paid 1.40 Canadian dollars per share.

That means the company has paid a total of 20 million Canadian dollars i.e. about Rs 89.25 crore for this stake.

Now Tata Steel has all together 40,429,270 common shares which enhances its holding up to 27.4% in the mining firm.