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Tata Steel’s arm signs agreement to divest entire stake in Black Ginger 461

Tata Steel’s wholly owned indirect subsidiary — TS Global Minerals Holdings Pte has entered into an agreement to divest its entire stake in its wholly owned step down subsidiary Black Ginger 461 Pty which in turn holds 64% in Sedibeng Iron ore Pty, South Africa, which is the operating company.

The stake has been divested to IMR Asia Holding Pte which is a group company of IMR Metallurgical Resources AG, a global metals and mining group and a leading supplier of raw materials to the steel industry.

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.