# OYAK becomes front runner to bid for British Steel

Turkish cement producer OYAK, via its investment vehicle Ataer Holding, has become the front runner in bidding to acquire British Steel, which has been in liquidation since May 2019.

- Type: Acquisition
- Announced: 2019-08-14
- Where: Scunthorpe, United Kingdom
- Status: rumored
- Capacity: 4.5 million tons per year
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [British Steel](https://endata.com/companies/18188.md) (target)
- [OYAK](https://endata.com/companies/35208.md) (acquirer)
- [Ataer Holding](https://endata.com/companies/41350.md) (acquirer)
- [Ataer Holding](https://endata.com/companies/41350.md) (investor)

## Sources

- [cemnet.com](https://www.cemnet.com/News/story/167141/oyak-targets-british-steel-bid.html), 2019-08-14: "OYAK has become the front runner in the bidding to buy British Steel."
- [f.aa.com.tr](https://f.aa.com.tr/tr/ekonomi/oyak-british-steeli-satin-almak-icin-on-anlasmaya-vardi/1557795), 2019-08-16: "OYAK, demir çelik sektöründe, İngiltere başta olmak üzere Fransa ve Hollanda'da üretim faaliyetleri bulunan, İngiliz sanayi devi British Steel'i satın almak üzere ön anlaşmaya vardı."
- [eurometal.net](https://eurometal.net/oyak-signs-exclusivity-agreement-to-buy-british-steel/), 2019-08-16: "We, as Oyak, Turkey's largest professional pension fund, believe in the importance of merging world league players into our Group"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.