Tata Steel sells indirect subsidiary Black Ginger

Domestic giant Tata Steel said Monday it has divested the entire stake in indirect subsidiary Black Ginger 461 Pty Ltd (Black Ginger) to a Switzerland-based metals and mining group. Black Ginger has stake in an iron ore mine in South Africa. TS Global Minerals Holding Pte Ltd, an indirect wholly owned subsidiary of Tata Steel, had entered into a pact with IMR Asia Holding Pte Ltd to divest its entire stake in Black Ginger.