The UK government plans to convince investment banks to find a sustainable solution for Indian steelmaker Tata Steel’s UK operations, British Sky News has reported.
The UK Treasury has asked the investment bank Credit Suisse to advise on talks with Tata Steel, while the consultancy firm McKinsey is to draw up a plan for the future of the British steel industry.
Tata Steel had offered an equity stake of up to 50 percent to the UK government to secure a state loan worth around £900 million for its UK operations, as SteelOrbis previously reported.
The company’s talks with the UK government have not yet been finalized.