Tata Steel to announce UK asset sale next week

British media reported that Tata Steel is closer than ever to a deal to sell its steel plant in Scantrop, UK. At the same time, it is assumed that the deal will include a number of other enterprises of the Indian metallurgical company for the production of long products in England.

According to unconfirmed reports, three potential buyers are participating in negotiations with Tata Steel at once. The results of the negotiations may be announced early next week.

Among the contenders for the assets of the company are two British investment funds and a private investment company from the United States.

Earlier it was reported that the assets of Tata Steel in the UK can be bought by the American Harry Klash, who specializes in buying assets at bargain prices for the purpose of further resale or, in extreme cases, for cutting into scrap metal.

Tata Steel has upheld cost-cutting plans in the UK, which include the layoff of 720 people from the Aldwarke plant in Rotherham.