 "Tata inks pact with HBIS Group, divests stake in steel biz for $327 million")
To stay focused on the growing domestic steel market, Tata Steel on Monday announced it has signed a definitive agreement with China’s
HBIS Group to sell 70 per cent stake in its Southeast Asia operations for a cash consideration of $327 million.
According to the agreement, the divestment will be made to a company in which 70 per cent equity shares will be held by an entity controlled by HBIS and 30 per cent by T S Global Holdings Pte Ltd, an arm of Tata Steel.
The two divested assets are Singapore-based NatSteel Holdings Pte Ltd, and Tata Steel (Thailand). This deal also
