Tata Steel takes Liberty Steel to UK court over missed payments

Tata Steel Ltd. | Steel & Iron Products | Metals & Mining | BSE: 500470 | NSE: TATASTEEL

23 Apr 2021 Evaluate

Tata Steel has filed a commercial court claim in the UK against Liberty Steel, over alleged missed payments from an acquisition dating back to 2017. Liberty Steel had stepped in to acquire Tata’s Speciality Steels business employing more than 1,700 people in Yorkshire, Lancashire and the West Midlands in an estimated 100 million pounds deal, which Tata Steel announced as complete in May 2017.

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.

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