AZB & Partners, Clifford Chance and Weerawong, Chinnavat & Partners have advised India’s Tata Steel on the sale of its Southeast Asia production assets) for $327 million to China's HBIS Group, which was represented by Shook Lin & Bok, Jingtian & Gongcheng and Tilleke & Gibbins.
Reuters said that the deal will see HBIS Group, the second-largest steel producer in China, purchase Singapore-based NatSteel Holdings (NSH), fully owned by Tata Steel, and the 67.9 percent stake that Tata holds in Tata Steel (Thailand) (TSTH) for $327 million and a 30 percent share of the equity of the new combined companies.
NatSteel and TSTH have combined steel production capacity of around 3.7 million tonnes per year and assets in Singapore, Thailand, Vietnam and Malaysia, Reuters added.
The AZB team was led by Shameek Chaudhuri while the Clifford Chance team was led by corporate partners Melissa Ng, Hong Zhang, Richard Blewitt and Bai Yong.
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