Mumbai: Tata Steel announces that its subsidiary NatSteel Holdings has sold off 27.03 per cent in Southern Steel Berhad, Malaysia, at a total consideration of around $72 million.

 

The sale is part of Tata Steel's strategy of restructuring its portfolio and reconsidering its position in geographies where it does not have a majority control. The company will continue to explore various opportunities to grow its South-East Asian business in the future.

 

The transaction is subject to approval of Bursa Malaysia and other relevant regulatory authorities.