Tata Steel UK signs Letter of Intent with Liberty House Group
For potential sale of its Speciality Steels business
Tata Steel UK announced the signing of a Letter of Intent with Liberty House Group to enter into exclusive negotiations for the potential sale of its Speciality Steels business for an enterprise value of GBP 100 million subject to due diligence and corporate approvals.The Letter of Intent covers several South Yorkshire-based assets including the Rotterdam electric arc steelworks, the steel purifying facility in Stocksbridge and a mill in Brinsworth as well as service centres in Bolton and Wednesbury, UK and in Suzhou and Xian, China. Speciality employs about 1700 people making steels for the aerospace, automotive and the oil & industries.
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First Published: Nov 28 2016 | 4:13 PM IST