Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
17 February, 2019 04:12 IST
T S Global Holdings to divest majority stake in South East Asia biz
Source: IRIS | 28 Jan, 2019, 01.36PM
Comments  |  Post Comment

T S Global Holdings (TSGH) (an indirect wholly owned subsidiary of Tata Steel) has executed definitive agreements with HBIS Group (HBIS) controlled entity to divest its entire equity stake in NatSteel Holdings (NSH) and Tata Steel (Q,N,C,F)* (Thailand) Public Company (TSTH).

As per the agreement, the divestment will be made to a company in which 70% equity shares will be held by an entity controlled by HBIS and 30% will be held by TSGH. The agreements were signed today in Beijing, China.

T. V. Narendran, CEO & Managing Director, Tata Steel said, ''Tata Steel Group and HBIS Group have been in discussions in relation to the future of the South-East Asia (SEA) business. The definitive agreement signed today between the two companies is a significant milestone in our strategic relationship, offering the SEA business robust growth opportunities, given the access to resources, technical expertise and regional understanding of HBIS. Tata Steel remains committed through its shareholding to help create a sustainable future for all stakeholders.''

Shares of the company declined Rs 6.2, or 1.37%, to trade at Rs 446.45. The total volume of shares traded was 197,238 at the BSE (12.37 p.m., Monday).

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Company Update
Lupin launches Clobazam oral suspension - 15-Feb-2019 16:37
Muthoot Finance to raise upto Rs 7.50 bn through NCDs - 14-Feb-2019 11:01
Zydus gets USFDA nod for Triamterene & Hydrochlorothiazide capsules - 13-Feb-2019 13:10
L&T Construction bags contract for construction of hospitals - 13-Feb-2019 11:56
Strides receives USFDA approval for Triamcinolone Acetonide cream - 13-Feb-2019 11:52
Lupin receives FDA approval for Fluoxetine Tablets - 12-Feb-2019 16:32
Lupin launches Tadalafil Tablets - 12-Feb-2019 16:29
C & C Constructions JV wins order worth Rs 1.24 bn from DFCCIL - 12-Feb-2019 13:44
Tata Motors group global wholesales up 12% in January 2019 - 12-Feb-2019 13:39
Alembic Pharma announces completion of USFDA inspection at Aleor Dermaceuticals - 12-Feb-2019 10:37
L&T Hydrocarbon Engineering bags order from Sonatrach-Algeria - 12-Feb-2019 10:32
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer