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Tata Steel sells 70% stake in Singapore, Thai arms to Chinese group for $480 million

Updated : January 28, 2019 07:07 PM IST

The Chinese steel major will $327 million in cash to the Tatas and take over $150 million combined debt of these companies.
This is the second major deleveraging that Tata Steel has done in as many years having merged its heavily loss- making European operations with ThyssenKrupp last year by creating a new giant joint venture with the German engineering and alloy major.
Tata Steel sells 70% stake in Singapore, Thai arms to Chinese group for $480 million
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