India’s second-largest steel maker Tata Steel Ltd on Wednesday said it has sold its entire stake in a Sri Lankan unit.

The entire stake in Lanka Special Steels was sold to E.B. Creasy and Co. Plc for Rs.20.4 crore, Tata Steel said in a statement.

Lanka Special Steel has an installed capacity of 14,400 tonne per annum and reported annual sales of Rs.74 crore in financial year 2013-2014, the company said in a statement to BSE.
(livemint.com)