BREAKING NEWS
This content is not available in your region

Turkey's military pension fund says reached deal to buy British Steel

Turkey's military pension fund says reached deal to buy British Steel
FILE PHOTO: A British Steel works sign is seen in Scunthorpe, northern England, Britain, May 21, 2019. REUTERS/Scott Heppell   -   Copyright  SCOTT HEPPELL(Reuters)
Text size Aa Aa

ISTANBUL (Reuters) – Turkey’s military pension fund OYAK has reached a provisional agreement to take over British Steel, the Turkish company said on Friday, adding that it planned to close the deal by year-end.

Ataer Holding, an affiliate of OYAK, will have the exclusive rights to carry out due diligence on British Steel and expects to complete this in October, the company said.

(Reporting by Ceyda Caglayan; Writing by Ezgi Erkoyun; Editing by Daren Butler)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.