An investment group owned by Turkey’s military pension fund is in last-minute talks about a takeover of British Steel, offering hopes of a deal that could save thousands of jobs. Ataer Holding. at.
Tata Steel has confirmed a deal to sell its Scunthorpe plant to a British investment firm, saving 4,000 jobs. The plant will go to Greybull Capital and will be rebranded as British Steel. Greybull,
British Steel has gone into liquidation, threatening thousands of job losses, amid revelations that it would. including the giant steelworks at Scunthorpe. At a High Court hearing in London, Mr.
LONDON (Reuters) – The British government is set to announce a preferred bid for British Steel within days, with a Turkish fund seen as the front-runner, as it scrambles to save thousands. would.
British Steel is teetering on the brink of collapse as one of the Humber’s biggest employers faces administration. The business employs around 4,000 people at its plant in Scunthorpe. to save this.
It promised to invest £400million into British Steel following the token £1 purchase from indian conglomerate tata, despite only putting in £20million each year. As a result of the insolvency, up to 4.
whose failure in 2012 caused 7,000 job losses. It also invested in the My Local convenience store chain, which went into administration in 2016. Mr meyohas blamed brexit for British Steel’s demise. He.
"This is a dark day for British manufacturing," said Derek Simpson, joint general secretary of the Unite union. "Unite will do everything possible to prevent this closure from going ahead. The.
Prospective buyers now have little more than 48 hours to finalise their proposals to buy British Steel, which collapsed into compulsory liquidation in May. Thousands of jobs at Scunthorpe, the company.
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A Turkish pension fund’s deal to rescue british steel from insolvency has come under fire from a major newspaper closely connected to President Recep Tayyip Erdoan. Monday’s edition of Sabah said.
pledging to revive the Scunthorpe-based operation’s fortunes. However, British Steel was taken over by the Official Receiver a fortnight ago and placed into compulsory liquidation after running into a.
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It is not just the 5,000 British Steel workers at Scunthorpe and Teesside, where the Lackenby and skinningrove rolling mills are based, who are worried. At least 7,000 more jobs with suppliers. all.