Tata Steel to separate some assets, merge others

Tata Steel is to separate some assets, while merging others, in a bid to reduce debt and diversify its operations, the company has said.

The company has been focusing on deleveraging in recent months - with its financial statements reporting a reduction of 186.09 billion rupees ($2.56 billion) in net debt over the first nine months of its full year 2020-21, of which 103.25 billion rupees is in its third quarter - with further reductions planned for its fourth quarter.
These steps have significantly improved the credit metrics of the company and ensured that cash flow generation remains strong, it said.

The company reported consolidated earnings before interest, taxes, depreciation, and...

Published

Carrie Bone

February 12, 2021

17:55 GMT

London