Tata Steel Ltd. said Aug. 6 that a US$327 million sale of two units to China's HBIS Group Co. Ltd. fell through after the deal was not approved by the Hebei province government.
T S Global Holdings Pte. Ltd. agreed to sell a 100% stake in NatSteel Holdings Pte. Ltd. and a 67.9% stake in Tata Steel (Thailand) PCL to HBIS in January.
Tata Steel plans to immediately start discussions with other parties to find a partner for its Southeast Asian business.