The Turkish Military Pension Fund has opened exclusive talks on the acquisition of British Steel.

Sky News announced for the first time that Ataer, a unit of Oyak, was taking care of the pennies of Turkish military personnel Exclusive talks with government advisers who held the auction of the ailing steelmaker on behalf of the official recipient.

British Steel, whose largest production site is in Scunthorpe, went bankrupt in May after the government decided not to give the company under its then owner, Greybull Capital, 30 million pounds.

In a statement, Ataer Holding stated that it is now conducting a detailed financial, legal and operational review for a period of only two months.

It said, "During the exclusivity period, close negotiations with customers, suppliers, employees and unions are important to the future success of British Steel."



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Can British Steel be saved?

Ataer said that since the bankruptcy of British Seel launched an official auction on May 21, almost 80 bidders from around the world have registered interest.

OYAK General Manager Suleyman Savas Erdem said: "We have achieved one of the biggest achievements of the Turkish steel industry and have signed a preliminary agreement to acquire British industrial giant British Steel.

"In line with our growth-oriented vision, we will continue to evaluate opportunities globally and continue our investments to deliver sustainable value for our members."



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Scunthorpe has approximately 3,000 employees, more than 1,000 work at other British Steel sites, and has an estimated 20,000 employees in the supply chain.

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