Indian private-sector steel producer Tata Steel has completed the sale of its majority stake in its Vietnamese subsidiary Natsteel Vina for $5mn.Indian private-sector steel producer Tata Steel has completed the sale of its majority stake in its Vietnamese subsidiary Natsteel Vina for $5mn.

The Vietnam unit operates a 200,000 t/yr hot-rolling mill, producing construction products such as wire rod and rebar.

Tata earlier this month sold the 56.5pc stake in Natsteel Vina to Vietnam-based Thai Hing Trading that produces billet and trades in construction steel, billet and metal scrap.

Tata is keen to exit its southeast Asian businesses as it looks to focus on its Indian operations, with a deal to sell its Singapore unit to Hesteel falling through earlier this year. Tata also has a production unit in Thailand.

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