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LONDON (Reuters) – Industrial and commodity group Liberty House’s bid for Tata Steel TISC.NS UK’s specialty steel and pipe businesses is worth nearly 100 million pounds ($130 million), an industry source told Reuters on Wednesday.
Britain’s largest steelmaker paused the sale of its major UK assets in July to explore a joint venture with Germany’s Thyssenkrupp TKAG.DE, but proceeded with separate talks to sell its specialty and pipe businesses.
The businesses employ around 2,000 people directly, but up to 8,000 jobs would be at risk in sectors related to steelmaking if sale talks fail.
Liberty was a bidder for Tata Steel UK’s major assets.
An industry source told Reuters after Tata Steel paused the sale that Liberty would proceed with plans to bid for the company’s specialty steel and pipe businesses, based in Rotherham, Stocksbridge and Hartlepool.
Tata Steel and Liberty declined to comment.
Reporting by Maytaal Angel; Editing by Veronica Brown and Mark Potter
Our Standards: The Thomson Reuters Trust Principles.
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