Tata Steel to sell 70% in Thailand arm to Synergy Metals

摘要

Tata Steel has agreed to divest 70% of its stake in Tata Steel Thailand to Dubai-based Synergy Metals and mining fund.A memorandum of understanding(MoU) for the transaction was signed on August 7 a day after Tata Steel terminated agreements to sell its Southeast Asian units including NatSteel and Tata Steel Thailand to China's Hesteel.The agreements,signed in January,were scrapped after Hesteel was unable to obtain regulatory approvals from the Hebei provincial government,one of the key conditions for the deal.