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Potential joint venture with ThyssenKrupp as Tata Steel halts UK sale?


 United Kingdom, London: Tata Steel has temporarily halted the sale of its U.K. assets, after at least four of the seven shortlisted bidders pulled out due to uncertainty following the U.K.’s vote to leave the European Union.

Having postponed plans for a sale, the company is reportedly considering a joint venture with German steelmaker ThyssenKrupp in what might be a 50:50 partnership, reports Steel Times International.

In Europe, Tata Steel’s operations consist of the Port Talbot plant in the UK and the Ijmuiden facility in the Netherlands, which is less likely to face unpleasant headwinds because it is part of the European Union.

Source: Bloomberg, Steel Times International