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Tata Steel sells SE Asian operations to Chinese firm for $327 million, equity interest

Tata Steel on Monday announced its subsidiary TS Global Holdings will sell majority stake in its South-East Asian operations NatSteel Holdings (NSH) and Tata Steel Thailand (TSTH) to China’s HBIS Group for $327 million. Tata Steel will retain 30% stake in the businesses. The Chinese state-owned group is amongst the largest steelmakers in the world, Tata Steel added.