Who will buy the British assets of Tata Steel
To date, officially confirmed the interest of the two contenders for the British assets of Tata Steel Indian company. One of them is the industrial group Liberty House. Its head is a Briton of Indian origin — Sanjeev Gupta. The second wish — firm Excalibur Steel. At the time it was founded by Stuart Wilkie. Previously, he was a top manager of Iron and Steel Port Talbot. Earlier, there was talk about the presence of a third candidate. He was the company Albion Steel, established guidance Sheffield Forgemasters. This company is focused on the production of special steel. However, the transaction had to be abandoned. Albion Steelrasschityvala purchased separately taken the plant. In response, Tata Steel announced that it intends to sell British assets integrally, without separating them.
Previously it stipulated that the sale of assets will be completed
Whoever was preferred, the transaction value for Tata Steel UK will be rated. The variant is almost free of impact. The new owner can get a few companies, including Port Talbot for 1 pound. Annual production capacity of Port Talbot is 5 million. Tons of steel. Such a step is justified. The main task — to rescue from bankruptcy of unprofitable enterprises, restoring their profitability. It is also undesirable to plant closures. To do this, Liberty House is going to raise about 1 billion. USD. Investments in such amount will help Tata Steel UK plants to stay afloat. Support for the project plans to provide investment British bank Macquarie. It also will share the state Bank of India State Bank of India. Previous Liberty House has acquired the British metallurgical assets. These included Scottish Enterprise Tata Steel.