Klesch signs MoU with a view to purchase Tata Steel’s Long Products Europe business

Klesch signs MoU with a view to purchase Tata Steel’s Long Products Europe business

The Klesch Group today announces that it has signed a Memorandum of Understanding with a view to purchase the Long Products Europe business and associated distribution activities from Tata Steel. This Agreement covers several UK based assets including the steelworks at Scunthorpe, mills in Teesside and Scotland, an engineering workshop in Workington and a rail consultancy in York, as well as other operations in France and Germany. Both parties have now entered a period of exclusive detailed due diligence with the objective of completing the transaction in the first half of 2015. The Klesch Group is a global industrial commodities business headquartered in Geneva, Switzerland

Source: The Klesch Group (Link to full release)

About the author

Amitabh Arora

Amitabh Arora

Amitabh Arora has more than 18 years of experience promoting foreign direct investments (FDI), trade and economic relations between India and Switzerland, South Korea, United Kingdom and Canada. He is currently working as Director Key Accounts at the Greater Geneva Berne area (GGBa), the economic development agency of western Switzerland. GGBa offers a comprehensive range of services at no charge to foreign companies seeking to establish a presence in Switzerland. He is also the founder of FDITracker.com, tracking FDI developments worldwide. Amitabh has a Masters in International Business from the Indian Institute of Foreign Trade (IIFT) and a Bachelor of Business Studies (BBS) from College of Business Studies, India.

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