Deal signed for divestment in Tata Steel's subsidiary Al Rimal Mining

Tata Steel through its wholly owned indirect subsidiary, Tata Steel Global Minerals Holdings, held 70 per cent equity stake in Al Rimal Mining

Tata Steel said on Thursday that definitive agreements had been signed to induct Oman National Investments Development Company (TANMIA) as a shareholder in Al Rimal Mining LLC, an indirect subsidiary of the company.

Al Rimal Mining LLC was set up with the objective of limestone mining in Oman. Tata Steel through its wholly owned indirect subsidiary, Tata Steel Global Minerals Holdings Pte, held a 70 per cent equity stake in Al Rimal Mining LLC. 

As a result of the agreement, the indirect equity stake of Tata Steel in Al Rimal Mining will fall from 70 per cent to 51 per