Tata Steel’s board approved of signing of a memorandum of understanding (MoU) with Dubai-based Synergy Metals and Mining Fund to divest 70% of its stake in Tata Steel Thailand. Tata Steel had also said that it will “immediately” start engaging for investors to divest its stake in the businesses as it wants to exit non-core subsidiaries and use the proceeds to bring down its group level debt, along with increasing focus on the domestic market.

(Economic Times)