Tata International ties up Swiss, Japanese JVs

Tata will invest $51 mn to pick 51% stake, while Mitsubishi will invest $49 mn in the new entity.

- Varun Sood & Satish John

Tata International Ltd will invest $100 million to form two joint ventures with the Japanese conglomerate Mitsubishi Corp. and the Switzerland-based commodities trader Mercuria, as the $3.6 billion privately held trading business of Tata Sons seeks to scale up global operations.

Last Friday, the board of Tata Sons approved its trading subsidiary to form a joint venture with Mitsubishi Corp.’s Mobility Group for a multi-brand distribution business in Africa, an executive privy to the development said. Tata will invest $51 million to acquire a 51% stake, while Mitsubishi will invest $49 million in the new entity, the name of which will be formalized in the coming months.