Tata Steel Revives Plans to Sell its Thailand Business

Tata Steel has revived plans to sell its Thailand business as the company looks to exit less profitable overseas units in the ongoing super cycle said senior group officials aware of developments. The proposed sale coming on the heels of India’s largest steel makers move to offload its Singapore business, NatSteel Holdings will aim the company cut its debt further. Bangkok- listed Tata Steel Thailand has a market value of over 13.47 billion baht or $410 million. A Tata Steel spokesperson said, “We have recently completed the transaction of NatSteel and we will continue to explore all options for Thailand”. To be sure, Asia’s oldest maker of the primary infrastructure alloy is focused on the home market.

Tata Steel had finalised the sale of the Thailand unit to China’s HBIS group in 2019. The deal was called off after the state run entity failed to secure approvals.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this:
search previous next tag category expand menu location phone mail time cart zoom edit close