Tata Steel to offload 19 per cent holding in AI Rimal

Tata Steel announced the sale of a 19 per cent stake in Al Rimal Mining LLC in Oman (Al Rimal). With this transaction, the company's stake in Al Rimal has been reduced from 70 per cent to 51 per cent. Tata Steel’s wholly owned subsidiary TS Global Holdings (formerly TS Global Mineral Holdings) According to the statement, T S Global Holdings has agreed to transfer its 19% stake in Al Rimal to Oman National Investments Development Company (Tanmia) and the existing shareholders of Al Rimal. Also read: 4 electric machine prototypes to be unveiled by Caterpillar at Bauma JSW Energy to build 960 MW hydro pump storage facility in Maharashtra