Tata Steel Divests Jamshedpur Football Stake to Churchill Brothers

Tata Steel is a big steel company.

Tata Steel also owned a football company called Jamshedpur Football and Sporting Private Limited.

That football company was a wholly-owned part of Tata Steel, meaning Tata Steel owned all of it.

Recently, Tata Steel decided to sell its football company to another club called Churchill Brothers.

They did not ask for a lot of money: the sale price was just one hundred rupees, which is almost nothing.

Selling off a part of a business like this is called a divestment.

Before the sale could happen, a group of Tata Steel directors had to approve it, and they did.

The two companies also signed a share purchase agreement.

The football company made a lot of money last year, about 32.23 crore rupees.

Now Churchill Brothers will become the new owner of the football company.