Rio to spend last billion to acquire Riversdale

INDIA’S Tata Steel will sell its entire 26.7% stake in Riversdale Mining to Rio Tinto in a $A1.06 billion deal, allowing Rio to finally acquire the company and gain a foothold in an emerging coking coal basin in Mozambique.

Rio to spend last billion to acquire Riversdale Rio to spend last billion to acquire Riversdale Rio to spend last billion to acquire Riversdale Rio to spend last billion to acquire Riversdale Rio to spend last billion to acquire Riversdale

Overnight Tata said it did not want to hold on to its Riversdale stake without a joint venture agreement with the majority shareholder.

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