UK considering options for co-investment in Tata's steel assets, says minister | Reuters

LONDON Britain is considering a number of different options to co-invest in the purchase of steelmaking assets put up for sale by Indian conglomerate Tata Steel, Business Secretary Sajid Javid said on Tuesday. The government is under pressure to keep Tata's British steel plants open after Tata said last month that it was selling up in Britain.

Reuters April 12, 2016 18:26:48 IST
UK considering options for co-investment in Tata's steel assets, says minister
| Reuters

UK considering options for coinvestment in Tatas steel assets says minister
 Reuters

LONDON Britain is considering a number of different options to co-invest in the purchase of steelmaking assets put up for sale by Indian conglomerate Tata Steel, Business Secretary Sajid Javid said on Tuesday.

The government is under pressure to keep Tata's British steel plants open after Tata said last month that it was selling up in Britain.

"The key point is any investment would have to be on commercial terms. Investment can take a variety of forms - for example it could be debt," he said.

"I don't think it would be prudent to go into detail on that, but the goal is to find a commercial buyer with the government helping to secure that transaction."

Earlier, a source said the most likely form of government support was a state loan, made on commercial terms alongside other investors. The source said there was only a remote possibility that the government would take an equity stake in the business.

(Reporting by William James, editing by Elizabeth Piper)

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