Tata Steel sells entire holding in Natsteel Holdings, Singapore

Thursday, 30 September 2021 16:13:50 (GMT+3)   |   Kolkata

T S Global Holdings (TSGH) Singapore, a wholly-owned indirect subsidiary of India’s Tata Steel, has executed definitive agreements with TopTip Holding Pte Ltd to divest its entire equity stake in NatSteel Holdings Pte Ltd, Singapore, for an equity value of $172 million, Tata Steel said in a regulatory filing on Thursday, September 30.

TopTip Holding Pte Ltd is a Singapore-based steel and iron ore trading company.

However, the wires business of NatSteel in Thailand (Siam Industrial wires) has been retained by Tata Steel as part of its downstream wires portfolio. It said that the transaction has been closed today and that the consideration has been received and will be used for the reduction of off-shore debt.

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