Slaughter and May is advising Tata Steel UK - sale of Longs Steel UK

Slaughter and May is advising Tata Steel on the sale of its wholly-owned subsidiary, Longs Steel UK Limited, to the family investment office, Greybull Capital. The sale covers several UK-based assets including the Scunthorpe steelworks, two mills in Teesside, an engineering workshop in Workington, a design consultancy in York, and associated distribution facilities, as well as a mill in northern France.  The Long Products Europe business employs 4,800 people.

The deal would be completed once a number of outstanding conditions have been resolved, including transfer of contracts, certain Government approvals and the satisfactory completion of financing arrangements.

The Slaughter and May team on the deal is being led by corporate partner Gary Eaborn with support from associate Thomas Williams. The team also includes finance partners Ian Johnson and Andrew McClean, real estate partner John Nevin, tax partner Gareth Miles, IP partner Cathy Connolly and environment senior counsel Samantha Brady.