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Report: Tata Steel receives £100M bid for specialty steel, pipe divisions

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Report: Tata Steel receives £100M bid for specialty steel, pipe divisions

Metals trader Liberty House Group has put forward a bid of almost £100 million for Tata Steel Ltd.'s specialty steel and pipe businesses, Reuters reported Sept. 28, citing an industry source.

Tata Steel previously paused the sale of its major U.K. assets due to uncertainty following the Brexit vote and pension fund liabilities, and was mulling a joint venture for its European operations with ThyssenKrupp AG.

A report in June said that Tata Steel was considering the sale of its specialty steels and pipeline tube divisions in the U.K. if it gets to keep its Port Talbot steelworks.

The Dalzell steelworks in Motherwell, Scotland, which Liberty previously agreed to buy from Tata Steel, was reopened Sept. 28 with a targeted annual production capacity of between 400,000 tonnes and 500,000 tonnes of steel plate.