TATA steel firm could list internationally

Melbourne News.Net
Friday 5th September, 2008

India's TATA Group is reportedly looking to spin off its international steel assets in an overseas listing that could raise billions of dollars to help bankroll the steel unit's expansion.

The Financial Times quoted group insiders as saying that TATA is exploring ways to raise capital, and a listing of its overseas steel assets is among the options being seriously considered.

TATA Steel owns domestic assets as well as overseas companies.

These include Corus, the Anglo-Dutch steel maker bought last year for 6.7 billion pounds; steel operations in Thailand and Singapore; and further assets across the Asia-Pacific region.

TATA Steel is the world's sixth-largest steel maker.

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