Prior to Rio Tinto's $3.9-billion offer for Riversdale in December 2010, Tata Steel had 24.4 per cent stake in the company, now at over 26 per cent.
Global mining major Rio Tinto on Wednesday said it will de-list Riversdale, in which Tata Steel holds more than 26 per cent stake, from Australian Stock Exchange (ASX), after the completion process of of its takeover offer on May 6, if it is not extended.
"Yes, we will continue to hold on to our stake," Tata Steel's Vice-Chairman B Muthuraman told reporters on the sidelines of an industry event in New Delhi.
The move follows Rio Tinto Jersey Holdings 2010 Ltd's decision to delist Riversdale Mining Ltd, after the company's shareholding in the mining company increased to 73.20 per cent.
The former umpire's son, Rudi Koertzen Jr, confirmed the tragic news.
The Tata Steel nominee on the board of Riversdale, Narendra Kumar Misra, abstained from voting on a resolution to announce and recommend the offer to shareholders.
After signing on Tata Steel in 2007 and Brazil's CSN in 2009, Riversdale has roped in China's Wuhan Iron and Steel Corporation (Wisco).
The Indian steelmaker, which bought the Mozambique project with Australia-listed Riversdale Mining, sees the mine as essential in ensuring it has a sustainable supply of coking coal.
Albanese, 56, will take the helm on April 1.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances