British Steel ready to discuss with other bidders

Thursday, 24 October 2019 11:19:25 (GMT+3)   |   Istanbul

British Steel’s Official Receiver has indicated willingness to talk with other bidders for the UK-based steelmaker, as the exclusivity period with Turkey’s Ataer Group to complete the sale of the company and its subsidiaries ends this week.

“While discussions with Ataer are continuing, discussions with other parties who have expressed continued and renewed interest in acquiring the whole British Steel business will now be possible. I have instructed the Special Managers to engage with these additional interested parties. Diligence team members from these parties are expected to visit the company’s sites over the coming days and weeks. Meanwhile, Ataer remain very much interested in acquiring the business and we remain in detailed discussions with them to conclude a sale,” the Official Receiver said.

After Ataer was granted the exclusivity period, Chinese rebar producer Jingye and most recently Sanjeev Gupta’s Liberty House also expressed interest in the UK-based steelmaker.

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