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Tata Steel plan to seek partner on European steel assets unchanged - Report-The 18th China(Guangzhou)Int’l&nbs
p;Metal &Metallurgy Exhibition
11/1/2016 steel expo-metal &metallurgy expo |
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Reuters, citing a source present at a closed-door analyst briefing on Thursday, reported that Tata Steel Ltd''s plans for its European steel business are unchanged and the debt-laden firm is still seeking a partner for a joint venture to run the assets.
The report quoted the source as saying that “Tata Steel officials told analysts there were no concerns about the group''s steel business stemming from the departure of its former chairman Cyrus Mistry as boss of Tata Sons.”
Analysts had said the departure of Mistry from the chairmanship of the group could hurt the prospects of the merger or sale of the European steel business as he played a big role in discussions.
In March, Tata Steel decided to put its British steel operations on sale following heavy losses. The process was suspended in July because of uncertainty over Britain''s vote to leave the European Union. The company has since said it is exploring opportunities for a partnership for its entire European steel business, which also includes a steelworks in the Netherlands.
Tata Steel has previously said that Germany''s ThyssenKrupp AG is one of the companies with which a partnership is being discussed.
-The
18th China(Guangzhou)Int’l Metal &Metallurgy Exhibition
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