Tata Steel Might Break Up U.K. Business
06/20/2016 - Tata Steel announced in March that it would look to exit the United Kingdom and sell its strip business there, saying that it no longer saw a profitable future for the operation. Later, though, reports emerged that it may hold onto the business after all.
And now the waters are being muddied all the more -- the company might look to break up the operation, reports the (London) Financial Times.
“The process is in disarray,” an unidentified source told the newspaper.
Tata’s preference had been to sell the business, which includes the integrated Port Talbot works, as a whole and had rejected preliminary bids from those interested in only pieces of the operation.
Now, though, it may consider selling it off in pieces, although it wouldn’t dismantle the core operation. Instead, it would carve out pieces that are operationally distinct within the overall organization, a source told the newspaper.
The Financial Times has the full story here.
“The process is in disarray,” an unidentified source told the newspaper.
Tata’s preference had been to sell the business, which includes the integrated Port Talbot works, as a whole and had rejected preliminary bids from those interested in only pieces of the operation.
Now, though, it may consider selling it off in pieces, although it wouldn’t dismantle the core operation. Instead, it would carve out pieces that are operationally distinct within the overall organization, a source told the newspaper.
The Financial Times has the full story here.
