Turkish Company Named as Preferred Bidder for British Steel
08/19/2019 - The U.K. government announced Friday that Ataer Holdings A.S. will enter exclusive talks to purchase British Steel.
“I have now received an acceptable offer from Ataer Holdings A.S. for the purchase of the whole business and I am now focusing on finalizing the sale. I will be looking to conclude this process in the coming weeks,” said the Official Receiver in the announcement.
Ataer Holdings, a subsidiary of Turkey’s military pension fund, previously outlined their plans to invest GBP900 million into British Steel. The struggling steelmaker entered insolvency proceedings in May.
