NatSteel Asia Pte Ltd. (NSA), the
Singapore-based unit of the Indian steel producer
Tata Steel, said on Thursday that it has acquired a 100 percent stake in Structure Steel Engineering Pte Ltd. (SSE(S)) and a 70 percent stake in Vinausteel Ltd for a total of $41 million.
The remaining 30 percent stake in Vinuasteel is held by Vietnam Steel Corporation (VSC).
The acquisitions are subject to certain closing adjustments on the deal completion between NSA and Vietnam Industrial Investment Ltd.
This acquisition will provide NSA with an additional 250,000 metric tons of steel bars and
wire rod and 180,000 metric tons of
rebar annually.