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.


Similar articles

Indian steel companies submit bids in ongoing coal mine auction

21 Feb | Steel News

India’s Tata Steel completes merger of five subsidiaries, calls off merger of TRF Limited

08 Feb | Steel News

India’s Tata Steel to spend $1.2 billion annually to create 1-2 million mt new capacity each year

08 Jan | Steel News

Tata Steel’s crude steel output in India up 6% in Q3 FY 2023-24

08 Jan | Steel News

India’s Tata Steel to complete Kalinganagar steel mill expansion by Dec 2024

18 Dec | Steel News

India’s Tata Steel and London’s Imperial College to set up design and innovation center

15 Dec | Steel News

India’s RINL inks deals with TIL to source raw materials through LCs

29 Nov | Steel News

Tata Steel’s crude steel output from Indian operations up 4% in Q2 FY 2023-24

03 Nov | Steel News

Tata Steel to acquire stake in energy subsidiary TPVSL

27 Oct | Steel News

Tata Steel commences construction of EAF-based steel mill in Punjab

23 Oct | Steel News