Tata Steel's wholly-owned subsidiary NatSteel Asia, Singapore, has bought stake from Southern Steel Berhad, Malaysia in NatSteel (Xiamen), NatSteel Trade International and NatSteel Vina.According to an official release issued by the company to the BSE today, it has bought 50% equity interest in NatSteel (Xiamen) for a cash consideration of S$ 19,357,000, 40% equity interest in NatSteel Trade International for a cash consideration of S$ 6,538,000 and 22.6% equity interest in NatSteel Vina for a cash consideration of S$ 3,105,000 (present holding 33.9%).On completion of the above acquisitions, NatSteel Trade International and Southern NatSteel (Xiamen) have become wholly-owned subsidiaries of NatSteel Asia and NatSteel Vina has become its subsidiary with equity holding of 56.5%.
