Turkey-based Ataer Holding, part of the country’s biggest complimentary pension fund OYAK is likely to finalize the acquisition of British Steel in November.
As SteelOrbis previously reported, in August, Ataer Holding signed an exclusivity agreement to conduct a detailed financial, legal and operational review of British Steel for a period of two months. In early October, China’s largest rebar producer Jingye has reportedly made a bid for British Steel as well, also reported by SteelOrbis.
British Steel, which has operations in the UK, France and the Netherlands entered compulsory insolvency and was put up for sale on May 21.