Tata Steel UK Completes Sale of Long Steel Biz to Greybull Capital

The sale included the Scunthorpe plant in England and mills in Teesside and northern France.

Tata Steel plant in Scunthorpe, northern England. (Photo: Reuters)

• Tata Steel on Wednesday said it has completed sale of its European long steel business, for a “nominal” fee, including the giant Scunthorpe plant in England, to Greybull Capital.
  
  
• The company also announced that it has sold mills in Teesside and northern France, which employ a total of 4,800 people.
  
  
• Reeling under losses for several years, Tata Steel was in talks with London-based private equity firm Greybull Capital since December.
  

Also Read: Tata Steel Puts Loss-making UK Business up for Sale

(With agency inputs)