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Deal Date: 12-03-2020 Practice Area: Corporate and M&A
Deal Title: Jingye Group Completed Acquisition of British Steel Industry: Industrial Metals and Mining
Linklaters advised Chinese steelmaker, Jingye Group, on its completed acquisition of British Steel's UK and Netherlands assets. This was a strategically significant transaction, that marked the beginning of the internationalisation of Jingye after navigating one of the largest and most complex industrial insolvency sales in the UK. Jingye Group, a leading Chinese steelmaker, secured British Steel's long=term future after pledging to invest GBP1.2 billion to place the business on a more competitive and sustainable footing. Key initiatives announced as part of the completion of the deal included the development of an Electric Arc Furnace in Teesside and the construction of a new 250MW power plant to serve the Scunthorpe site.
Financial Center: London Value: 0.00-0.00
Advised Party: Acquiror Law Firm
Target Company Jurisdiction: United Kingdom Acquiror Jurisdiction: China
Classification: Strategic Buyer Acquisitions Private Company
Lawyer Chris Staples