September 20, 2017 / 9:44 AM / a month ago

BRIEF-Tata Steel says 2.5 bln euros of debt will move to new JV

Sept 20 (Reuters) - Tata Steel chairman Natarajan Chandrasekaran and group executive director (Finance and Corporate) Koushik Chatterjee:

* Says Thyssenkrupp merger helps Tata Steel India to go for inorganic and organic expansions‍​

* Says Tata Sons will work closely with Tata Steel India to capture all opportunities in India post merger

* Says combined entity will have common procurement and logistics

* Says combined entity will help in having higher utilisation of steel capacity than Tata Steel Europe’s current

* Says 2.5 billion euros of debt will move to new JV

* Says JV zero date of operations likely to be March 2019

* Says definitive agreements will be signed by March 2018

* Says India operations will double capacity in 5 years

* Says Thyssenkrupp will not bring any debt but will bring some of its pension liabilities to the JV

* Says JV will not lead to job losses and closure of sites Further company coverage:

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