Tata Steel will not sell HBIS Group assets
14 August 2019, 09:23
Recently it became known that the company from India Tata Steel will not sell the Chinese corporation HBIS Group subsidiaries located in South-East Asia. The main reason for the refusal is the difficulty in obtaining permits from regulatory authorities. One of the key points for conducting such operations is permission from the ruling structure of Hebei Province, which did not agree to the transaction. Therefore, the parties by mutual agreement did not extend the agreement. Tata Steel said they intend to seek new partners to strengthen their business positions.
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