Tata Steel subsidiary T S Global Holdings to divest majority stake in South East Asia business

T S Global Holdings (an indirectly owned subsidiary of Tata Steel) has executed definitive agreements with HBIS Group Co. (HBIS) controlled entity to divest its entire equity stake in NatSteel Holdings ("NSH") and Tata Steel (Thailand) ("TSTH").

As per the agreement, the divestment will be made to a company in which 70% equity shares will be held by an entity controlled by HBIS and 30% will be held by TSGH. The agreements were signed on 28 January 2019 in Beijing, China.

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