Full transfer of ownership to pension fund Oyak expected to take place before end of year
The Turkish military pension fund Oyak has confirmed that it has entered exclusive talks with the government to buy British Steel, in a rescue that could save more than 4,000 jobs.
Oyak on Friday said its subsidiary, Ataer Holding, will have the sole right to carry out due diligence on British Steel for two months, with a full transfer of ownership scheduled to take place before the end of the year.
What went wrong at British Steel?
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