Tata Steel’s subsidiary Natsteel Holding has sold 27.03 per cent stake in the Malaysian company Southern Steel Berhadits for $72 million (about Rs 338 crore). The sale is part of Tata Steel's strategy of restructuring its portfolio and reconsidering its position in geographies where it does not have a majority control.
The company will continue to explore various opportunities to grow its South-East Asian business in the future. NatSteel, a wholly-owned subsidiary of Tata Steel, has operations in
As on March 31, Tata Steel's gross debt was $11,882 million and the company was trying to repay its debt through various means including the stake sale in long-term investments. Last fiscal, the company sold stakes in various investments worth $218.6 million.
crackcrackCompany Name | CMP |
---|---|
JSW Steel | 855.00 |
Tata Steel | 158.80 |
SAIL | 133.20 |
Jindal Stainless | 757.65 |
Jindal Saw | 480.65 |
View more.. |