NEW DELHI: The potential sale of Tata Steel UK’s Speciality Steel business to the Liberty House Group will help the embattled giant improve operational performance, Moody’s Investor Service said today.
Last month, Tata Steel UK Holdings Ltd (TSUKH, a wholly- owned subsidiary of Tata Steel UK, announced that it had signed a letter of intent with Liberty House to enter into exclusive negotiations on the potential sale of its Specialty Steel business for an enterprise value of GBP 100 million.
The sale, which is subject to due diligence and corporate approvals, would be credit positive for TSUKH because it would dispose of loss-making assets at a time when the company faces challenging conditions in Europe, Moody’s said in a statemen…
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