Statement On British Steel Takeover Agreement

Please see below for a statement from Tees Valley Mayor Ben Houchen reacting to the announcement that Ataer has entered exclusive rescue talks to take over British Steel

Tees Valley Mayor Ben Houchen said: “This is fantastic news. A potential buyer has now agreed terms to buy British Steel as whole and to run it as a business. They have now entered into an exclusive period to finalise legal documentation over the coming weeks, which will secure the long-term future of British Steel.

“Since the day the business went into liquidation we’ve been working tirelessly behind the scenes with Government to get talks to this point and it’s a massive step forward for all parties that a deal is agreed.

“While it’s not quite over the line yet, this will be a huge weight off the shoulders of local workers, their families and the supply chain.

“I want to thank British Steel staff for continuing to work hard for the business during these uncertain times, which has been noticed by the potential buyers as a reason for their interest in the business. I’d also like to thank politicians from all parties, the unions and Government for stepping up to save British Steel and to protect Teesside jobs. This is what we can achieve when we work together. Today is a good day.”

ISSUED ON BEHALF OF THE TEES VALLEY MAYOR