TATA Steel announced that its subsidiary NatSteel Holdings Pte Ltd has sold of 27.03% in Southern Steel Berhad, Malaysia at a total consideration of around USD 72 million.

The transaction is subject to approval of Bursa Malaysia and other relevant regulatory authorities.

TATA release said that "The sale is part of TATA Steel’s strategy of restructuring its portfolio and reconsidering its position in geographies where it does not have a majority control. The Company will continue to explore various opportunities to grow its South East Asian business in the future."