+
Tata Steel divests 100% equity stake in NatSteel Holdings Pte
Steel

Tata Steel divests 100% equity stake in NatSteel Holdings Pte

Tata Steel’s indirect subsidiary TS Global Holdings Singapore has entered an agreement with TopTip Holding Pte, a Singapore-based steel and iron ore trading firm, to divest 100% equity share in NatSteel Holdings Pte for an equity value of $172 million.

Based on the past performance of the transacted business, the Enterprise Value to EBITDA works out to be around 13 times. Siam Industrial wires, the wires business of NatSteel in Thailand, has been held by Tata Steel as part of the downstream wires portfolio.

The transaction has been closed on Thursday, the consideration obtained will be utilised for off-shore debt reduction, it said.

Tata Steel had procured the Singapore company in 2004 for Rs 1,313 crore.

Earlier, Tata Steel had made failed efforts to sell off low-margin assets overseas to pare debt. In January 2019, a definitive agreement was inked with an entity owned by China’s state-run HBIS Group to sell a majority share in NatSteel Holdings and Tata Steel, Thailand, for $327 million.

Image Source

Also read: Tata Steel launches 5 TPD carbon capture plant in Jamshedpur

Tata Steel’s indirect subsidiary TS Global Holdings Singapore has entered an agreement with TopTip Holding Pte, a Singapore-based steel and iron ore trading firm, to divest 100% equity share in NatSteel Holdings Pte for an equity value of $172 million. Based on the past performance of the transacted business, the Enterprise Value to EBITDA works out to be around 13 times. Siam Industrial wires, the wires business of NatSteel in Thailand, has been held by Tata Steel as part of the downstream wires portfolio. The transaction has been closed on Thursday, the consideration obtained will be utilised for off-shore debt reduction, it said. Tata Steel had procured the Singapore company in 2004 for Rs 1,313 crore. Earlier, Tata Steel had made failed efforts to sell off low-margin assets overseas to pare debt. In January 2019, a definitive agreement was inked with an entity owned by China’s state-run HBIS Group to sell a majority share in NatSteel Holdings and Tata Steel, Thailand, for $327 million. Image Source Also read: Tata Steel launches 5 TPD carbon capture plant in Jamshedpur

Next Story
Infrastructure Urban

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?