Tata Iron and Steel Company Ltd has completed the acquisition of Singapore-based steel company NatSteel Ltd by subscribing to 100 per cent equity of its subsidiary NatSteel Asia Pte Ltd (NatSteel Asia).
The transaction was to be completed by June.
NatSteel Asia Pte Ltd (NSA), the Singapore-based subsidiary of Tata Steel, said on Thursday it has acquired two new steel-bar rolling plants in Vietnam for $41 million as part of strategy to expand in the Asia-Pacific.
This is for the second time that Tata Steel is getting into a take-over battle. It acquired the Anglo-Dutch steel company Corus Group after beating rival suitor, CSN of Brazil, through auction.
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
'He was sought after because he delivered.' Ishita Ayan Dutt profiles Tata Steel's new boss.
We bring you this excerpt from Shaili Chopra's book, When I was 25.
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