Corus sells its stake in GrantRail to VolkerWessels

New Delhi, Nov 26 (UNI) Tata Steel Ltd, the country's largest private steel producer, today said its UK arm Corus has sold its 50 per cent stake held in GrantRail Group Ltd to its Netherlands-based joint venture partner VolkerWessels.

The company, however, did not provide financial details of the transaction.

Following the development, railway infrastructure services firm GrantRail, which was a 50:50 joint venture between Corus and VolkerWessels, has become a fully-owned entity of the Dutch firm.

GrantRail Group is providing rail infrastructure services and is not a part of Corus' core business that is steel production activities, Tata Steel said in a statement.

UNI SBA SK RN2152