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.


Most Recent Related Articles

India’s Jindal Stainless posts 34% net profit rise for Q2 FY 2021-22

India’s IMFA reports fivefold rise in net profit for Q2 FY2021-22

Tata Steel reports 3% rise in steel output for Q2 FY 2021-22

Tata Steel BSL Limited’s pig iron output up 5% in Q2 FY 2021-22

ABB to supply technology and equipment to Tata Steel to improve quality, lower production cost