BlueScope to sell 50% stake in Tata BlueScope Steel for $179m
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The news: Steel producer BlueScope has agreed to sell its 50% interest in Tata BlueScope Steel to its joint venture partner Tata Steel for $179 million.
The numbers: BlueScope expects to record $179 million in net proceeds after taxes and fees in the second half of FY26. The estimated net profit after tax on the sale is $70 million.
The context: Pune-headquartered Tata BlueScope Steel was established in 2005, growing into a prominent provider of coated and painted steel products in India.
What they said: "This transaction recognises the value created over two decades, and delivers a strong financial outcome for BlueScope," said managing director and CEO Mark Vassella.
"It also strengthens our focus in executing a range of growth investments and initiatives across our strategic portfolio."
The source: ASX
