Natsteel ends VII deal

TATA Steel subsidiary, NatSteel Asia Pte Ltd, has terminated its sale and purchase agreement with Perth-based Vietnam Industrial Investments Ltd after VII shareholders voted against the deal. NatSteel had aimed to acquire the company’s 70 per cent interest in Vinausteel Ltd and 100 per cent interest in Structure Steel Engineering Pte Ltd for about $14.3 million. A last-minute, $16.2 million takeover offer for 100 per cent of VII by the company’s managing director, Henry Lam Van Hung, backed by investment group Prudential, wasn’t enough to swing company’s independent directors away from the Natsteel bid, in part to mitigate against any claims NatSteel may have had against the firm. While the Prudential bid remains on the table, NatSteel has reserved its rights with respect to various alleged breaches of the agreement, claiming breach of the no-shop clause and the open suggestion by VII that the company would consider higher bid than that of Natsteel, were one to appear. VII disputes these allegations.


(existing subscribers)

The password field is case sensitive.
Request new password

Add your comment

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/06/18

1 year TSR5 year TSR
559thVietnam Industrial Investments-13%25%
722 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar


th-Vietnam Industrial Investments$380.0m
239 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Vietnam Industrial Investments

205thHenry Lam$525k
241stAlan Young$447k
686thPatricia Williams$169k
Ranked by total remuneration from all listed WA companies

BNiQ Disclaimer