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British Steel in exclusive talks with Turkish pension fund to save 5,000 jobs

Credit: PA - Press Association STUDIO
Published on August 16, 2019 - Duration: 00:44s

British Steel in exclusive talks with Turkish pension fund to save 5,000 jobs

The investment division of Turkey’s armed forces pension fund is the preferred bidder for British Steel, the Government’s Insolvency Service has revealed.

Investment vehicle Ataer Holding will now be given several weeks to allow its advisers to comb through British Steel’s business before any deal is made official.

The Official Receiver has entered exclusive talks with Oyak, which controls Ataer, after revealing he received several approaches for the business.

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