Mr Doomits | stock.adobe.com
Australia-based BlueScope has completed the sale of its interest in Tata BlueScope Steel (TBSL) to its joint venture partner, Tata Steel, Dec. 31, 2025.
In mid-November of last year, the company announced its plan to sell its stake in the joint venture that it formed with Tata Steel Ltd. of Mumbai, India, in 2005.
Since its founding, TBSL has grown into a prominent provider of coated and painted steel products in India, serving the building and construction markets, according to BlueScope, which also said at the time the sale was announced that the business had delivered consistent profitability and strong returns over time.
BlueScope expected to receive net proceeds of AU$179 million ($117.4 million) after taxes and fees and an estimated net profit after tax on the sale of AU$70 million ($45.9 million).
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