Liberty House Group will start due diligence within a week from Monday on the loss-making UK assets that Tata Steel has put up for sale, its boss Sanjeev Gupta said, adding he was confident of turning the business around with government help.
Tata, Britain’s biggest steel producer, has been forced to walk away from its UK business due to high costs, weak demand and a flood of supplies from top producer China. The formal sale process for the assets, which the company bought in 2007, is expected to start by Monday.
“It’s a loss-making business and a loss-making business is not worth a lot in itself to buy,” Gupta told Reuters in a phone interview on Thursday. “It’s more of a question of what are the resources required in turning it around.”
Nenhum comentário:
Postar um comentário