The "back to back" agreement, which was confirmed on Thursday morning, involves the Scottish Government buying the Clydebridge and Dalzell plants from Tata Steel, and immediately selling them on to Liberty.
The sale will be done under the same terms with no cost to the taxpayer.
Liberty will take responsibility for reopening, operating and investing in the two sites as part of its wider strategy to build an integrated and sustainable steel business across the UK.
Business minister Fergus Ewing said: "When Tata Steel mothballed the Dalzell and Clydebridge plants, I said we would leave no stone unturned in the quest to find an alternative buyer.
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