HBIS Group to Acquire 70% of Tata Steel’s South East Asian Steel Operations

On 4 February 2019, Chinese steel-producer, HBIS Group (‘HBIS’), entered into definitive agreements with TS Global Holdings Pte Ltd (‘TSGH’), an indirect wholly-owned subsidiary of Tata Steel Ltd, to acquire 70% of Tata Steel’s South-East Asian steel operations for a cash consideration of USD327 million. 
 
TSGH will transfer its 100% shareholding in NatSteel Holdings Pte Ltd (‘NatSteel’), a Singapore company, and its 67% shareholding in Tata Steel (Thailand) pcl to a new holding company in which a HBIS-controlled entity will hold 70% and TSGH 30% equity.
 
Among the assets held by NatSteel is a 100% shareholding in a Malaysian steel manufacturing operation.
 
According to news reports, this transaction will enable HBIS to narrow the gap with China Baowu Group (China’s largest steel group) and result in HBIS becoming the world’s third largest steel manufacturer.
 
Skrine acted as Malaysian counsel for HBIS.  The team comprised of Partners Phua Pao Yii and Addy Herg and Associates Alex Lian and Tan Wei Liang.

2019年2月4日 – 中国河钢集团(HBIS)和TS Global控股公司 (TSGH)(Tata Steel 的间接性全资附属公司)签署了最终协议,前者将从后者收购Tata Steel在东南亚钢铁业务的70%股权,作价为3.27亿美元。
 
TSGH将转让其在Natsteel控股公司(NatSteel,一间新加坡公司)的100%股权、以及其在Tata Steel(泰国)的67%股权予一间新成立的控股公司。HBIS和TSGH将分别持有该控股公司70%以及30%的股份。
 
NatSteel所持有的众多资产中包括了其在马来西亚钢铁制造业务的100%股权。
 
根据新闻报道:该交易将促使HBIS缩小它和中国宝武钢铁集团(中国最大的钢铁集团)之间的产能差距,并且使其成为全球第三大的钢铁制造商。
 
思纪龄在此交易中为HBIS的本地律师团,团队由合伙人潘宝宇律师(Phua Pao Yii)以及合伙人贺钰豪律师(Addy Herg)领衔,队员包括廖伟贤律师(Alex Lian)以及曾伟良律师(Tan Wei Liang)。敝所衷心庆贺并祝愿HBIS成功完成交易。