Tata Steel Arm Exits NatSteel Vina
Tata Steel Ltd. on Friday said its arm NatSteel Holdings Pte has concluded the sale of its entire equity stake in NatSteel Vina to a Vietnam-based company for Rs 36 crore.
The steelmaker earlier in the month had announced that NSH had agreed to sell its entire 56.5 percent stake in NSV for about Rs 36 crore to Vietnam-based Thai Hung Trading Joint Stock Company.
"NSH has today concluded the sale of equity shares in NSV and NSV ceases to be a related party to NSH," the company said in a filing to BSE on Friday.
"This is further to our disclosure dated Nov. 4, 2019 regarding execution of definitive agreements by NatSteel Holdings Pte. Ltd. (NSH) (a step-down subsidiary of Tata Steel) with a Vietnam based company Thai Hung Trading Joint Stock Company to divest its entire equity stake held in NSV (56.5 percent)," the filing said.