Tata Steel offloads 19 per cent of its stake in Oman-based AI Rimal

Tata Steel on Tuesday said it has offloaded 19 per cent of its stake in AI Rimal Mining, Oman (AI Rimal) reducing its stake to 51 per cent from earlier 70 per cent. This has reference to our disclosure dated May 9, 2019, with respect to divestment of equity stake in Al Rimal Mining LLC, Oman (Al Rimal).

T S Global Holdings Pte Ltd (formerly T S Global Mineral Holdings Pte Ltd), a wholly-owned subsidiary of Tata Steel Limited, 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 thereby divesting its equity stake in Al Rimal from 70 per cent to 51 per cent, Tata Steel said in a regulatory filing to the stock exchanges. This is to inform you that Tata Steel Limited, 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, thereby reducing its shareholding from 70 per cent to 51 per cent in Al Rimal.

This disclosure is being made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Tata Steel said. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)