Slaughter and May is advising Tata Steel UK – Sale of Speciality Steels Business
Slaughter and May is advising Tata Steel UK on the sale of its Speciality Steels business to Liberty House Group for total consideration of £100 million.
The sale covers several South Yorkshire-based assets, including the electric arc steelworks and bar mill at Rotherham, the steel purifying facility in Stocksbridge and a mill in Brinsworth, as well as service centres in Bolton and Wednesbury, UK, and in Suzhou and Xi'an, China. The Speciality Steels business directly employs about 1,700 people making steels for the aerospace, automotive and the oil & gas industries.
Completion of the transaction remains subject to satisfaction of conditions, including the receipt of regulatory clearances.
The Slaughter and May team on the deal is being led by corporate partner Gary Eaborn, with support from associate Claire Jackson, who worked alongside the Tata Steel in-house legal team led by Alastair Page, Director, Legal UK.