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'UK considering all options for Liberty Steel, nationalisation unlikely'

Britain is considering all options for Liberty Steel after the collapse of its main lender Greensill Capital, but nationalisation was the least likely route

Liberty Steel group, Sanjeev Gupta
Reuters LONDON
1 min read Last Updated : May 25 2021 | 4:27 PM IST

LONDON (Reuters) - Britain is considering all options for Liberty Steel after the collapse of its main lender Greensill Capital, but nationalisation was the least likely route, business secretary Kwasi Kwarteng said on Tuesday.

Kwarteng also told a parliamentary hearing that he was happy that Liberty owner Sanjeev Gupta announced that refinancing was proceeding of his UK steel assets.

Liberty Steel, which employs 3,000 people in Britain, said on Monday it was planning to sell three 'non-core' UK plants as part of a major restructuring.

 

(Reporting by Eric Onstad, editing by Louise Heavens)

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Topics :UKSanjeev GuptaSanjeev Gupta's Liberty House Group

First Published: May 25 2021 | 4:23 PM IST

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