Tata Steel will invest in NatSteel
According to recent news in the market,
Tata Steel has signed an agreement with
Singapore-based NatSteel to invest in all of NatSteel's businesses in a cash transaction worth $283.1 million. This deal marks the largest overseas investment by an Indian company. In addition to the investment in NatSteel's
Singapore operations,
Tata Steel will also acquire a 26% equity share in Southern Steel Berhad, a
Malaysia-based producer with annual output of 1.3 million tons.
NatSteel is
Singapore's largest steel producer, with operations in
China,
Thailand,
Australia, Vietnam and the
Philippines.