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Tata Steel sells Black Ginger, an indirect holding subsidiary
Release time：Jun 22, 2019 From：admin
Indian steel giant Tata Steel said Monday that it had sold all of its indirect holding subsidiary Black Ginger 461 Ltd. (hereinafter referred to as "Black Ginger") to IMR Asia Ltd., a Swiss metallurgical mining group. IMR Asia Co., Ltd. is a subsidiary of IMR Metallurgical Resources Group, headquartered in Switzerland, and is a leading raw material supplier in the steel industry.
Black Ginger owns a stake in a South African iron ore project.
TS Global Mining Co., Ltd., an indirect subsidiary of Tata Steel, has reached an agreement with IMR Asia Co., Ltd. to sell all Black Ginger shares to IMR Asia Co., Ltd.
However, TS Global Mining Co., Ltd. did not disclose its financial position or other priority details.
The deal will be completed within a year.
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