International industrials and metals group, Liberty House, has entered into exclusive negotiations with Tata Steel UK to acquire its Speciality Steels business for a total consideration of £100m.
At the end of March, the Indian-owned steelmaker concluded that it was exploring all options for portfolio restructuring including the potential sale of Tata Steel UK, in whole or in parts. Following a board meeting in July, the steelmaker decided on a separate process for the potential sale of its Speciality Steels business, which until recently employed over 2,000 people at sites like Aldwarke in Rotherham and Stocksbridge in Sheffield.
Tata confirmed the progress of its divestment of the Specialty Steel business and the pipe mills in Hartlepool in its financial results for the quarter to June 30 and it was revealed in September that two bids had been submitted for the speciality steel business in its entirety, including the two businesses in Rotherham (at Aldwarke and Brinsworth Strip Mill).
Jobs hope as buyer lined up for Rotherham’s Tata steel plant
AN INTERNATIONAL metals firm is set to purchase Tata Steel UK’s threatened speciality steels arm — including its Rotherham plants.
Liberty House Group is now in exclusive buy-out talks with Tata, the London-based company announced on this morning.
Metals group in £100 million takeover of Tata Steel securing hundreds of South Yorkshire jobs
An international metals group is in the process of buying out part of Tata Steel securing hundreds of South Yorkshire jobs.
International industrials and metals group, Liberty House, has entered into ‘exclusive negotiations’ with Tata Steel UK to acquire its Speciality Steels business for £100 million.