Tata Steel begins JV talks with ThyssenKrupp for European business

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New Delhi | Updated: July 8, 2016 11:04:32 PM

Tata Steel says will now begin process for potential sale of South Yorkshire based speciality steels business and the Hartlepool pipe mills in the UK.

Tata Steel says received interest from several bidders for speciality steels and pipe mills in each case, formal process will be commencing shortly. (Reuters)Tata Steel says received interest from several bidders for speciality steels and pipe mills in each case, formal process will be commencing shortly. (Reuters)

Earlier in the day it was reported that Tata Steel may “pause” its plans to sell off most of troubled UK units, including the mammoth Port Talbot steelworks in Wales, as Britain’s business minister is set to hold talks with the senior management of the Indian steel giant in Mumbai to achieve a long-term solution.

Highlights
* Tata Steel says will now begin process for potential sale of South Yorkshire based speciality steels business and the Hartlepool pipe mills in the UK

* Tata Steel to explore feasability of strategic collaborations through potential joint venture

* Based speciality steels business and the Hartlepool pipe mills in the UK

* Tata Steel says entered into discussions with strategic players in the steel industry including Thyssenkrupp AG

* Tata Steel says received interest from several bidders for speciality steels and pipe mills in each case, formal process will be commencing shortly

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