BlueScope sells stake in Tata BlueScope steel joint venture

BlueScope Steel Limited today announced a binding agreement to sell its 50% interest in Tata BlueScope Steel (TBSL) to joint venture partner Tata Steel. Established in 2005, TBSL has become a leading provider of coated and painted steel products in India, consistently delivering profitability. This sale, expected to yield net proceeds of $179 million and a net profit after tax of $70 million in 2H FY2026, is subject to customary regulatory approvals in India.

In related substantial shareholder notices, Citigroup Global Markets Australia Pty Limited disclosed becoming a substantial holder with a 5.3940% voting power (23,658,772 ordinary fully paid shares) on 6 November 2025. This includes direct holdings and relevant interests arising from securities lending agreements and contracts on a stock market.

Additionally, State Street Corporation and its subsidiaries reported a change in their substantial holding on 10 November 2025. Their voting power increased from 7.41% (32,509,374 shares) to 9.55% (41,907,683 shares), reflecting various transactions including collateral received, transfers in/out, and securities lending arrangements.