£100m bid for steelworks on the cards

A DEAL for Tata UK steelworks could be imminent, with sources saying that Liberty House is weeks away from signing on the dotted line for the businesses.

The Tata sites in question include Rotherham, Stocksbridge and Hartlepool, which together employ 2,500 people.

Reuters has reported industry sources pegging the deal at £100m. It would see the specialist steel and pipe-making works transfer to the industrial and commodities giant Liberty, which has already brought Tata’s Scottish assets.

Tata put the sale of its UK assets on hold over the summer as it looked into a joint venture with German firm Thyssenkrupp.

A spokesman for the Indian steel giant told the BBC: “Talks are continuing over the potential sale of our specialist steel business in South Yorkshire and our pipe-making business in Hartlepool.”

The deal is said to be completed “within weeks”.

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