+
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 Transport

Gujarat AAI Airports Report Rs 818 Cr Loss Over 10 Years

Eight Airports Authority of India (AAI)-operated airports in Gujarat have collectively recorded losses of Rs 818 crore over the past decade, with Rajkot airport accounting for more than half the amount. The losses span from the fiscal year 2015–16 to 2024–25, as per a report from the Union Ministry of Civil Aviation.Rajkot airport posted the highest loss at Rs 418.67 crore, followed by Bhavnagar at Rs 122.08 crore. Porbandar, Bhuj, Diu, Kandla, Keshod, and Deesa also reported significant deficits. Deesa airport is currently non-operational, along with 21 other airports nationwide.Notably, ..

Next Story
Technology

Autodesk Launches India-Based Cloud Data Storage for AECO Sector

Autodesk has expanded its regional offerings to include India, enabling businesses to store and manage project data locally. This strategic move supports the Government of India’s Viksit Bharat vision by empowering regulated sectors such as infrastructure, utilities, and government with secure, high-performance cloud collaboration capabilities. With this launch, AECO (architecture, engineering, construction, and operations) customers can now select India as their primary data storage location for Autodesk Docs, BIM Collaborate, and BIM Collaborate Pro. The offering ensures enterprise-gr..

Next Story
Building Material

Enlight Metals Enters Cable Tray Business with Rs 50 Million Plan

Enlight Metals, a leading metal aggregator based in Pune, has announced its entry into the cable tray aggregation business. This strategic move supports its transition from a raw material supplier to a provider of value-added, project-ready steel solutions for industrial and infrastructure sectors across India. With strong sourcing expertise and established OEM relationships, Enlight Metals aims to simplify cable tray procurement for EPC contractors, renewable energy firms, and automation companies. The company will cater to high-demand states including Maharashtra, Gujarat, Karnataka, an..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?