Friday, August 14, 2020

British Steel hosts visit from potential Chinese purchaser

The period of exclusivity with Turkish company Ataer Holding A.S. to complete the sale of British Steel and its subsidiaries ended in October, and a new potential buyer has entered the field.

Discussions with Ataer are continuing, but the Official Receiver has confirmed discussions with other interested parties about the sale of the business, with the ability to conclude a transaction in a short time available.

The Official Receiver confirmed discussions are taking place with a Chinese bidder interested in purchasing the whole of British Steel, with plans to expand British Steel’s operations as a key strategic acquisition to develop their operations outside of China.

Visits to the Scunthorpe site for this bidder began on Monday 28th October with detailed due diligence meetings and tours of the ironmaking and steelmaking operations – these are continuing across British Steel and its subsidiary locations. The due diligence process has been designed to be intensive to facilitate completion within the shortest timeframe.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.




Latest news

Investor acquires £41m BTR scheme in Leeds

Habitus Leeds has sold a £41 million Build to Rent (BTR) Scheme just outside the city centre to has to clients of Aberdeen Standard...

Forgemasters manufacturing key components for renewables project

Sheffield Forgemasters is manufacturing key components for a revolutionary new device for the renewable energy sector. In a first for the company, it will supply...

Rebrand for Leeds-based renewable energy pioneers

Planet-U Energy, the Leeds-based renewable energy brokerage, has announced a full creative rebrand following two years of growth from just 1 to 50, and...

Construction readies for speculative Sheffield development aimed at SMEs

A new speculative development of industrial units designed for SMEs will start at Magna 34 Business Park this month. NSM manages the development on behalf...

City solicitors raise £6,400 for Sheffield children’s charity

Almost £6,400 has been raised for Create a Dream Foundation (CADF), the Sheffield-based children’s charity, by city solicitors Wake Smith. Set up in 2017, the...

Private investor swoops for Ossett site in £2m deal

A private investor has snapped up a prominent industrial site in Ossett for more than £2 million. Olway Works on Healey Road was marketed by...

Related news

Investor acquires £41m BTR scheme in Leeds

Habitus Leeds has sold a £41 million Build to Rent (BTR) Scheme just outside the city centre to has to clients of Aberdeen Standard...

Forgemasters manufacturing key components for renewables project

Sheffield Forgemasters is manufacturing key components for a revolutionary new device for the renewable energy sector. In a first for the company, it will supply...

Rebrand for Leeds-based renewable energy pioneers

Planet-U Energy, the Leeds-based renewable energy brokerage, has announced a full creative rebrand following two years of growth from just 1 to 50, and...

Construction readies for speculative Sheffield development aimed at SMEs

A new speculative development of industrial units designed for SMEs will start at Magna 34 Business Park this month. NSM manages the development on behalf...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close