Publication Date:
Sat, 2011-06-18 01:09
Rio Tinto said Tata Steel had agreed to sell its 26.3 percent stake in Riversdale, which has significant coal mining operations in Mozambique and the Zululand Anthracite operation in South Africa.
Rio Tinto launched its bid in December.
It says it will use compulsory purchase to get the remaining shares, representing a stake of 0.26 percent.
Tata Steel, based in Mumbai, says it will keep a 35 percent interest in Riversdale Energy (Mauritius) Ltd., a subsidiary of Riversdale Mining.
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