Tata Steel Long Products (TSLP) has acquired the government's 93.71% stake in Neelachal Ispat Nigam (NINL) for INR121b. The deal implies an EV of INR129b (at 100% stake) for the 100mt iron ore mine and the land parcel of 2,500 acres. As the NINL plant is a short distance away from Tata Steel's Kalinganagar plant, the two plants will have a certain level of operational synergies. The plan going forward: The management plans to set up a greenfield long steel products plant of 4.5mt capacity on NINL's land. This implies...