Tata Steel divests its stake in Sri Lanka subsidiary

Tuesday, 07 April 2015 15:46:58 (GMT+3)   |   Istanbul
       

Indian steelmaker Tata Steel announced last week that it has divested its entire stake in its Sri Lanka-based subsidiary Lanka Special Steels Ltd. to E.B. Creasy in Sri Lanka for a cash consideration of LKR 433 million ($3.25 million).

Lanka Special Steels manufactures and supplies hot dip galvanized wire and nail wire with an annual output capacity of 14,400 mt.


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