Liberty House was among bidders for Tata Steel’s UK operations and in March agreed to buy two Tata Steel mills in Scotland. Photo: iStockMelbourne: Liberty House Group is among bidders to have submitted an offer for the steel and iron ore assets of Australia’s Arrium Ltd., according to people with knowledge of the process. Liberty House faces competition, including from private equity groups and entities with interest only in specific assets, two of the people said. Liberty House was among bidders for Tata Steel’s UK operations and in March agreed to buy two Tata Steel mills in Scotland. Global steel producers, including Arrium, have been pressured by rising exports from China, maker of half the world’s steel, which have weighed on prices and eroded profits.

Source: Mint October 18, 2016 09:33 UTC