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Divestment

4th Oct 2022 13:59

RNS Number : 7504B
Tata Steel Limited
04 October 2022
 

October 4, 2022

 

London Stock Exchange

London

 

Dear Madam, Sirs,

 

Sub: Divestment of partial stake in AI Rimal Mining LLC, Oman,

an indirect wholly-owned subsidiary of Tata Steel Limited

 

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% shareholding in Al Rimal to Tanmia thereby divesting its equity stake in Al Rimal from 70% to 51%.

 

This is to inform you that Tata Steel Limited, through T S Global Holdings Pte Ltd, has concluded the divestment of its 19% equity stake in AI Rimal to Tanmia onOctober 3, 2022, thereby reducing its shareholding from 70% to 51% in Al Rimal.

 

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

 

This is for your information and records.

 

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