Green shoots as Tata Steel's UK pension drama ends

For a major part of the decade, Tata Steel's $12-billion Corus acquisition made in 2007 has been a drag, but green shoots are popping. The British Steel Pension Scheme now stands separated from Tata Steel UK and a number of affiliated companies; Tata Steel Europe is doing better; and the global steel cycle is supportive.

On Monday, Tata Steel announced that it had received confirmation from The Pensions Regulator that it had approved a Regulated Apportionment Arrangement (RAA) with respect to the British Steel Pension Scheme (BSPS). As part of the RAA, a payment of £550 million from Tata Steel