Tata Steel has divested its entire 50 per cent stake in Tata Elastron SA to its joint venture partner for euro 0.368 million (nearly Rs 2.7 crore).
“Tata Steel’s entire equity stake in the 50 per cent joint venture, Tata Elastron SA, has been divested to Elastron SA,” the company said in a regulatory filing today.
Tata Steel said the total consideration from sale is euro 0.368 million. In the previous fiscal, Tata Elastron SA reported a turnover of euro 19.8 million.