Tata Steel arm to sell entire stake in NSV for Rs 36 cr
Tata Steel on Monday said its subsidiary NatSteel Holdings Pte (NSH) has agreed to sell its entire 56.5 per cent stake in NatSteel Vina (NSV) for about Rs 36 crore to a Vietnam-based Thai Hung Trading Joint Stock Company.
"Tata Steel's step-down subsidiary NSH has executed definitive agreements with a Vietnam-based company Thai Hung Trading Joint Stock Company to divest its entire equity stake held in NSV (56.5 per cent)," Tata Steel said in a regulatory filing.
NSH is a wholly-owned subsidiary (WOS) of TS Global Holdings (TSGH), which in turn is a WOS of T Steel Holdings, which ultimately is a WOS of Tata Steel.
Tata Steel said the deal is worth Rs 36 crore for sale of 56.5 per cent stake held by NSH in NSV.