• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai March 8 As part of its focus on regional consolidation, Tata Steel, through its wholly owned Singapore subsidiary, NatSteel Asia Pte Ltd, has entered into separate agreements to acquire controlling stake in two rolling mills located in Haiphong, Vietnam.

NatSteel will be acquiring 100 per cent equity holding in a 2.5 lakh tonne per annum (TPA) rolling mill in SSE Steel Ltd and 70 per cent holding in Vinausteel Ltd, which produces 1.8 lakh TPA reinforcing bar.

The remaining 30 per cent equity in Vinausteel is held by Vietnam Steel Corporation.

The two acquisitions involve an aggregate of 4.3 lakh TPA of finished products.

Tata Steel informed the BSE that the enterprise value for the acquisition is about $41 million, subject to certain closing adjustments on the completion date. The transaction is likely to be completed by June 2007.

SSE Steel has one of the most modern rolling mills in Vietnam and the Vinausteel brand is a leading brand in Vietnam for reinforcement bars.

More Stories on : Mergers & Acquisitions | Steel | Tata Steel Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Sustainability Report: ITC among first 10 in the world

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line