Tata Steel shares down 4% as co starts sale of UK biz
Shares of Tata Steel fell by almost 4 percent, a day after the company kickstarted the sale of its cash-guzzling UK arm with divestment of Long Products Europe business to investment firm Greybull Capital for a nominal amount of 1 pound.
Apr 12, 2016, 12:35 PM ISTTata Steel starts UK biz sale; sells Long Products to Greybull for £1
The embattled steelmaker appointed KPMG LLC as process advisor for the "thorough, but expedited sale" of its entire shareholding in its subsidiary Tata Steel UK, which includes Britain's largest steel plant at Port Talbot.
Apr 11, 2016, 17:41 PM IST