Tata Steel is likely to divest its stake in the Netherlands based metals re-cycler HKS Scrap Metals.
The company may offload its 50 per cent stake in HKS to Euro Scrap Alliance (ESA). The deal is subject to approval from the European Commission. ESA already holds the remaining 50 per cent stake in HKS. This will mean Tata Steel's exit from HKS, engaged in recycling both ferrous and non-ferrous metals. However, financial details of the deal have not been disclosed.