(Reuters) - Tata Steel (TISC.NS), the world’s no. 7 steelmaker, said on Monday it has agreed to sell its 50 percent stake in Dutch recycler HKS Scrap Metals Co to a unit of Germany’s TSR for an undisclosed amount.
The transaction is in line with Tata Steel’s strategy to focus on core activities, the company said in a statement.
The TSR unit already owns 50 percent stake in the Dutch company. HKS generates annual sales of 400 million euros.
Reporting by Prashant Mehra in Mumbai; Editing by Prateek Chatterjee