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Tata Steel's subsidiary signs agreement with HBIS Group to divest South-East Asia business

Updated : January 28, 2019 04:26 PM IST

As per the agreement, the divestment will be made to a company in which 70 percent equity shares will be held by an entity controlled by HBIS and 30 percent will be held by TSGH, the company said in a BSE filing, adding that the agreement was signed for $327 million between the two parties. 
The agreement was signed on Monday in Beijing and is expected to be completed in 3-4 months, subject to regulatory approvals, the company said in the filing. 
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