British Steel Limited is a long steel products business founded in 2016 with assets acquired from Tata Steel Europe by Greybull Capital. The primary steel production site is Scunthorpe Steelworks, with rolling facilities at Skinningrove Steelworks, Teesside and Hayange, France.
Tata Steel Europe Ltd. (formerly Corus Group plc) is a steelmaking company headquartered in London, United Kingdom, with its main operations in the United Kingdom and the Netherlands.
Corus Group was formed through the merger of Koninklijke Hoogovens and British Steel plc in 1999 and was a constituent of the FTSE 100 Index. It was acquired by Tata of India in 2007, and renamed Tata Steel Europe in September 2010.
Greybull Capital LLP is a private investment company that specialises in medium- to long-term investments in UK companies. It was incorporated as a limited liability partnership in April 2010.
In the aftermath of the financial crisis of 2007–2008 traditional banks tended to withdraw lending. Meyohas saw that firms still needed to borrow, and would pay higher fees than they had for now unobtainable bank loans. Greybull's strategy was to buy distressed firms and turn them around, returning them to success.
By 2019 Greybull had bought several struggling firms for low prices, but many of them had subsequently failed. Examples include the airline Monarch, sports bar and snooker hall chain Riley’s, the M Local convenience store chain, and electrical goods retailer Comet. Greybull bought British Steel, Britain's second-largest steelworks, for £1 in 2016, invested £20m in the company, and charged it £6m in fees and has accrued £14m of owed interest. British Steel became insolvent in May 2019, after failing to secure government funding.
Kinijos bendrovė „Jingye“ oficialiai patvirtino perkanti bankrutavusią plieno įmonę „British Steel“
„Jingye Group“ oficialiai sutiko pirkti bankrutavusią Didžiosios Britanijos plieno įmonę „British Steel“ už neatskleidžiamą kainą, pirmadienį pranešė įgaliotasis bendrovės bankroto administratorius.