The filings show that TS Global Holdings Pte., a subsidiary of Tata Steel Ltd., entered into a definitive agreement with China's Hegang Group Co., Ltd. to sell its stake in NatSteel Holdings Pte and Tata Steel (Thailand) Public Company Ltd. Under the agreement, the transaction will be conducted through a company, an entity controlled by the Hegang Group will hold 70% of the company's shares, and another 30% will be held by TS Global Holdings, which was signed in Beijing on Monday. As part of the equity dilution transaction, Tata Steel will receive $327 million and a 30% stake in the newly formed entity. The transaction is subject to regulatory approval and is expected to be completed within 3-4 months.
