An investment group owned by Turkey’s military pension fund is in last-minute talks about a takeover of British Steel in a deal that could save thousands of jobs.
Ataer Holding, a wholly owned vehicle of Oyak, the state military retirement scheme, which is also the largest shareholder in Erdemir, the Turkish steel group, is in talks with the government about acquiring the collapsed steelmaker, according to the Financial Times.
British Steel’s large plant at Scunthorpe is one of the UK’s two remaining blast furnace steelworks where most of the company’s 5,000 employees are based. It also operates smaller factories in north-east England, France and the Netherlands.
The search for a buyer has been under way since British Steel entered insolvency in May , after calls for…