A report in the UK-based Daily Telegraph newspaper claims that Tata Steel is close to agreeing the sale of its 150-year-old steel plant in Scunthorpe.

It is believed that the British steelmaker could strike a deal this week having received interest from Greybull Capital, private equity firm Endless and an American Investment company.

Tata refused to be drawn on disclosing details of any deal on the table, but claims to be assessing all strategic options for its European long products business.

A spokesperson for Tata declined to comment on details of the sale process, saying: “We are still assessing all strategic options for our long-products Europe business.”

It is widely believed that is a sale is not forthcoming, the Tata will simply close the Scunthorpe plant. However, following October announcements of 1,200 job losses – 900 at Scunthorpe – as part of a restructuring package, interest in the facility has perked up and a sale could be imminent, it is claimed.

Source: City AM.