China’s Jingye enters sale contract with British Steel

China’s Jingye enters sale contract with British Steel

China’s Jingye Steel has entered
into a “sales contract” to buy the assets of British Steel but
the deal has not been finalised, British officials said on
Monday.
The Official Receiver did not give a price but said the two
sides had reached a provisional agreement. Britain’s Business
Minister Andrea Leadsom said in a video clip posted on Twitter
that the takeover was not finalised but she was optimistic that
it would go ahead.