UK would consider co-investing to secure sale of Tata steel assets | Reuters

LONDON British business minister Sajid Javid said on Monday the government would consider co-investing on commercial terms to secure the sale of Tata's UK steelmaking assets.

Tata, one of the world's biggest steelmakers, said on March 30 it was putting its British assets up for sale, citing a global oversupply of steel, high costs, weak domestic demand and a volatile currency.

"I've been in contact with potential buyers, making clear that the government stands ready to help," Javid told parliament. "This includes looking at the possibility of co-investing with a buyer on commercial terms."

He said the government had appointed Ernst and Young to act as their financial advisers on any deal.

(Reporting by William James; editing by Stephen Addison)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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Updated Date: Apr 11, 2016 23:15:13 IST

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