Tata Steel’s step-down subsidiary NatSteel HoldingsPte Ltd (NSH) has executed definitive agreements with Vietnam-based Thai Hung Trading Joint Stock Company to divest its entire equity stake of 56.5% in NatSteel Vina Co Ltd (NSV). The agreement for the stake sale was executed on November 4, 2019, Tata Steel said in a notification to the BSE.
The deal size was Singapore $ 7 million, roughly Rs 36 crore, for 56.5% held by NSH in NSV. The latter had a turnover of Rs 453 crore in FY19 and its net worth as on March 31, 2019, was Rs 65 crore, according to the notification.
Vietnam’s Thai Hung Trading Joint Stock Company specialises in three businesses. This includes production of steel billets, steel formwork, forest products processing and construction. It is also involved in construction steel, and metal scrap in addition to investments in education and real estate.
