Tata Steel sells 19% equity stake in Oman-based mining arm AI Rimal

Tata Steel has sold its 19% equity stake in Oman-based limestone mining company Al Rimal Mining LLC to Oman National Investments Development Company (Tanmia), it informed the exchanges today. With this, Tata Steel's shareholding in its step-down subsidiary Al Rimal has been reduced from 70% to 51%. Other existing shareholders of Al Rimal will also sell their stake to Tanmia.