British Steel’s French mill up for sale separately

Friday, 06 December 2019 16:54:50 (GMT+3)   |   Istanbul

UK-based British Steel's French unit has been put up for sale separately from the UK operation, according to media reports.

Last month, the Chinese rebar producer Jingye Group agreed in principle to buy British Steel for £50 million, saving possibly up to 4,000 jobs in the United Kingdom. The agreement included all of British Steel’s assets and, if a different bidder purchases the French Hayange mill, this could complicate Jingye’s takeover of the troubled steelmaker, SteelOrbis understands.

As previously reported by SteelOrbis, Turkish Ataer Holding had announced a negative decision on its possible acquisition of British Steel after a two-month exclusivity period.

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