 "Tata Steel")
T S Global Holdings (TSGH) Singapore, a 100 per cent indirect subsidiary of Tata Steel Limited, on Thursday executed definitive agreements with TopTip Holding Pte Ltd to divest its entire equity stake in NatSteel Holdings Pte Ltd for an equity value of $172 million (Rs 1,275 crore).
TopTip Holding Pte Ltd is a Singapore-based steel and iron ore trading company.
Based on the historical performance of the transacted business, the Enterprise Value to EBITDA works out to be about 13 times, said Tata Steel in its BSE filings.
However, the wires business of NatSteel in Thailand (Siam Industrial wires) has
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