Tata Steel completes acquisition of NatSteel

By agencies   |   Wednesday, 16 February 2005, 08:00 Hrs
Printer Print Email Email
MUMBAI:IndiaÂ’s largest steel maker by capacity Tata Steel today announced its 100 percent acquisition of SingaporeÂ’s NatSteelÂ’s steel business. With this transaction all steel assets of NatSteel in Singapore, Malaysia, Thailand, Vietnam, the Philippines, Australia and China have been transferred to NatSteel Asia Pte Ltd, a subsidiary of Tata Steel. Tata Steel, the biggest entity in one of India's largest diversified corporate houses Tata Group, had signed an agreement to acquire NatSteel for 486.4 million Singapore dollars on August 16, 2004. The board of NatSteel Asia has been reconstituted to induct B. Muthuraman, managing director of Tata Steel as chairman, and Oo Soon Hee as managing director.

SPOTLIGHT
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..