• Monday, September 26, 2022

Business

Tata Steel Gets Regulatory Approval For UK Pension Deal

The Tata Steel UK saga finally looks to be reaching a conclusion.

By: Sarwar Alam

Tata Steel Ltd has received regulatory approval for a deal to cut its UK pension scheme liabilities, it said on Friday (11), paving the way for a possible merger between its British and European steel businesses and those of Germany’s Thyssenkrupp. The pensions deal “represents the best possible structural outcome for the members of the British Steel Pension Scheme and for the Tata Steel UK business,” Koushik Chatterjee, Tata Steel’s group executive director, said. The net financial impact of the deal would be reflected in Tata Steel’s second-quarter financial results, he said. The fate of Tata’s British businesses, including the…

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