China's Jingye Group agrees to buy British Steel, UK government confirms

Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on Monday November 11.

The sale will also include British Steel's shares in TSP Engineering and Redcar Bulk Terminal in the UK, along with FN Steel in the Netherlands and British Steel France Rail.

Completion of the sale is conditional on a number of issues, including gaining the necessary regulatory approvals,...


Ross Yeo

November 11, 2019

17:49 GMT