Management buyout group Excalibur says still keen to buy Tata's UK steel business

LONDON (Reuters) - Management buyout group Excalibur, one of the bidders for Tata's British steelmaking business, said on Wednesday that it intended to pursue its plans to buy the assets despite Tata pausing the sale process to explore joint ventures.

"The Excalibur Board has concluded it will continue the development of a series of opportunities that help meet its ambitions and plans to acquire the Tata Steel UK business," an emailed statement said.

Earlier this month, Tata Steel put the process of selling its major British assets on hold because of the uncertainty caused by the Brexit vote and surrounding pension liabilities and said it would also look at forming a joint venture.

 

(Reporting by William James, editing by Andy Bruce)