Scunthorpe-based British Steel in talks to save 5,000 jobs
The company collapsed back in May
Last updated 16th Aug 2019
Turkey's military pension fund is now in exclusive talks to take over Scunthorpe-based British Steel.
Ataer Holdings now has two months for their advisors to comb through British Steel’s business and decide if they want to go ahead,
British Steel collapsed into insolvency in May, putting thousands of jobs at risk.
The Official Receiver has entered exclusive talks with Oyak, which controls Ataer, after revealing he received several approaches for the business.
He said:
"Following discussions with a number of potential purchasers for the British Steel group over the past few weeks I am pleased to say I have now received an acceptable offer from Ataer Holdings AS for the purchase of the whole business and I am now focusing on finalising the sale.
"I will be looking to conclude this process in the coming weeks, during which time British Steel continues to trade and supply its customers as normal. I would like to thank all employees, suppliers and customers for their continued support which has been essential to get to this point.
The news is expected to be welcomed by British Steel's 5,000 staff, including 4,000 at its plant in Scunthorpe, and a further 700 on Teesside in north-east England.