A deal is not yet finalised, the company told Reuters following a BBC report of an imminent 70 million pound agreement. A spokeswoman for Hebei-based Jingye Group said she was unclear about the value of the deal and unsure whether further details would be announced this week. Gareth Stace, director general of industry lobby group UK Steel, also told Reuters the deal was not finalised. British Steel was put into compulsory liquidation on May 22 after Greybull Capital, which bought the firm for one pound from Tata Steel three years ago, failed to secure funding to continue its operations. Turkey’s military pension fund OYAK said in August it had reached a provisional agreement to take over British Steel but that deal has not been finalised.

Source: bd News24 November 11, 2019 08:03 UTC