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)

By Reuters

Published on 16/08/2019 - 10:04•Updated 26/04/2024 - 09:51

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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)

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