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Tata Steel Announces Offloading 19% Equity Holding In AI Rimal To Tanmia
Tata Steel on Tuesday said it has offloaded 19 per cent stake in Al Rimal Mining LLC, Oman (Al Rimal)
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Tata Steel | Stake sale
Tata Steel on Tuesday said it has offloaded 19 per cent stake in Al Rimal Mining LLC, Oman (Al Rimal).
With this transaction, the company's shareholding in Al Rimal has come down to 51 per cent from 70 per cent, Tata Steel said in a statement.
"Tata Steel, through T S Global Holdings Pte Ltd, has concluded the divestment of its 19 per cent equity stake in AI Rimal to Tanmia on October 3, 2022," it said.
T S Global Holdings Pte Ltd (formerly T S Global Mineral Holdings Pte Ltd), is a wholly-owned subsidiary of Tata Steel Limited.
According to the statement, T S Global Holdings had entered into an agreement with Oman National Investments Development Company (Tanmia) and the existing shareholders of Al Rimal to transfer its 19 per cent shareholding in Al Rimal to Tanmia.
Tata Steel did not disclose the transaction value of the deal.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Tue, October 04 2022. 20:39 IST
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