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Tata Steel may retain up to 30% stake in South East Asian units

Steel News - Published on Fri, 11 Jan 2019

Image Source: CEO Water Mandate
Money Control reported that in a possible tweak to its strategy, Tata Steel may retain up to 30 percent of its shareholding in its South East Asian units, which had been put on the block. Sources told Moneycontrol that the slight tweak means that Tata Steel is now looking for a partner and not a downright buyer for Singapore-based NatSteel Holdings and Tata Steel (Thailand). In response to a query on the development, Tata Steel said that “In pursuit of its long-term strategy to create sustainable value for its shareholders, Tata Steel periodically undertakes strategic assessment and review of its portfolio including overseas business. Tata Steel will continue to consider all strategic decisions including portfolio restructuring options in a responsible manner taking into account the interests of stakeholders including employees. However, as there is no firm proposal for consideration currently, the company has no further comment to make in this matter.”

Earlier this week, media reports said the steel major was in talks with China's Hesteel Group.

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Posted By : Joykumar Irom on Fri, 11 Jan 2019
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