Mumbai: Tata Steel on Monday announced that it would exit from its step down subsidiary NatSteel Holdings by selling its entire 56.5% stake in it to a Vietnamese company Thai Hung Trading Joint Stock Company. Tata Steel expects to fetch Rs.36 Crore from the stale sale.
NSH is a wholly owned subsidiary (WOS) of TS Global Holdings Pte. Ltd(TSGH) which in turn is a WOS of Tata Steel Limited.
The agreement for the sale has been signed on Monday and the deal is expected to be completed within 2 weeks.
Thai Hung Trading Joint Stock Company having its head office at Group 14, Gia Sang, Thai Nguyen City, Thai Nguyen Province, Vietnam. It is a multidisciplinary operated company with interests in Steel making, Education and real estate.