Seven expressions of interest for Tata Steel’s UK business through to the next stage

In addition, Tata Steel Europe is clarifying outstanding points with a number of other parties who have submitted an expression of interest.

The remaining parties who submitted expressions of interest have been thanked for their participation in the process but informed that their expressions would not be taken forward currently.

As previously announced it is Tata Steel Europe’s primary intention to assess expressions of interest for the whole of Tata Steel’s UK business. The seven expressions of interest being immediately taken forward are on this basis. Expressions of interest for parts of the UK business are not being taken forward at this point.

Koushik Chatterjee, Group Executive Director (Finance and Corporate) of Tata Steel Limited, said: “We have been pleased with the response to the initial stage of the global sales process for Tata Steel’s UK business. Today’s announcement by Tata Steel Europe marks another important stage gate in this process. The expressions of interest received have been through a robust initial assessment process with inputs received from the UK Government whose views have been considered by the Board. We believe that the bids being taken forward offer future prospects of sustainability for the UK business as a whole. The sales process will continue as announced earlier in an expedited and robust manner to deliver greater clarity for all key stakeholders such as employees, customers and suppliers.”

Chatterjee continued: “Whilst the sales process continues, Tata Steel’s business in the UK under the new leadership team continues to focus on the business performance”.