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

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement