Two Teams Vying for Tata Steel's U.K. Business
05/09/2016 - The deadline to submit preliminary offers for Tata Steel's U.K. division has passed, and details of the two investment teams looking to buy the operation have emerged.
One team, called Excalibur Steel, is made up of senior managers who had worked for Tata and for predecessors British Steel and Corus, reports the BBC. Among them is Stuart Wilkie, the former managing director of Tata's U.K strip products division. He has stepped down from Tata to participate in the proposed management buyout.
Excalibur has backing from metals executive and technology investor Roger Maggs, who is chairing the effort.
The other team is being led by Sanjeev Gupta, founder of metals trading firm Liberty House.
He is leading a three-man steering committee, which is made up of two other steel and financial executives: Jay Hambro and Jon Bolton. Liberty House recently acquired two affiliated plate mills in Scotland from Tata.
The BBC has a closer look at each of teams here.
Tata is divesting its U.K. assets, saying that it doesn't see a profitable future in steelmaking there. Its U.K. operations include the integrated Port Talbot works, the country's largest steelmaking facility.
Excalibur has backing from metals executive and technology investor Roger Maggs, who is chairing the effort.
The other team is being led by Sanjeev Gupta, founder of metals trading firm Liberty House.
He is leading a three-man steering committee, which is made up of two other steel and financial executives: Jay Hambro and Jon Bolton. Liberty House recently acquired two affiliated plate mills in Scotland from Tata.
The BBC has a closer look at each of teams here.
Tata is divesting its U.K. assets, saying that it doesn't see a profitable future in steelmaking there. Its U.K. operations include the integrated Port Talbot works, the country's largest steelmaking facility.
