Tata sells New Zealand steel distribution business

Steel & Tube Holdings Ltd, New Zealand’s largest steel distributor, has agreed to buy Tata Steel’s local division, the Tata Steel International Australasia Ltd (TSIAL).

The acquisition, for a cash payment of NZ$27.5 million ($23.78 million), will be concluded on April 14, both companies said in separate statements on Tuesday April 8. TSIAL is the leading...


Juan Weik

April 09, 2014

08:44 GMT