UK Government to Consider Co-Investing to Secure Tata Steel Asset Sale

Tata Steel, one of the world's biggest makers of the alloy, said on March 30 it was putting its British assets up for sale.

Tata Steel, one of the world’s biggest makers of the alloy, said on March 30 it was putting its British assets up for sale.
London: British business minister Sajid Javid said on Monday that the government would consider co-investing on commercial terms to secure the sale of Tata’s UK steel-making assets.

Tata Steel, one of the world’s biggest makers of the alloy, said on March 30 it was putting its British assets up for sale, citing a global oversupply of steel, high costs, weak domestic demand and a volatile currency.

“I’ve been in contact with potential buyers, making clear that the government stands ready to help,” Mr Javid told Parliament. “This includes looking at the possibility of co-investing with a buyer on commercial terms.”

He said the government had appointed Ernst and Young (EY) to act as their financial advisers on any deal.

[“source-ndtv”]