UK Still Offers To Take Stake In Port Talbot After Tata Steel Pauses Sale
London: Britain said on Monday that it could still take a stake in Tata Steel's largest assets, including the Port Talbot plant, or offer loans in order to find a buyer after the Indian steelmaker said it was pausing the sale.
"The government's offer of support via an equity stake and/or loans on commercial terms to a future owner of the strip products business, which includes the operations at Port Talbot, remains," Business Secretary Sajid Javid said in a statement posted on parliament's website.
Tata Steel said on Friday it had put the process of selling its major British assets on hold because of the uncertainty caused by the Brexit vote and surrounding pension liabilities and would now also look at forming a joint venture.
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