# Jingye Group agrees to acquire British Steel

Chinese steelmaker Jingye Group has exchanged contracts to acquire certain assets of British Steel from the Official Receiver, including steelworks at Scunthorpe and mills at Teesside Beam Mill and Skinningrove. Jingye plans to invest £1.2 billion over the next decade.

- Type: Acquisition
- Announced: 2019-11-11
- Where: Scunthorpe, Teesside, Skinningrove, United Kingdom
- Status: announced
- Products: steel products
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [British Steel](https://endata.com/companies/18188.md) (target)
- [Jingye](https://endata.com/companies/39521.md) (acquirer)

## Sources

- [britishsteel.co.uk](https://www.britishsteel.co.uk/jingye-group-statement-on-agreement-to-acquire-british-steel/), 2019-11-11: "Jingye Group, a leading Chinese steelmaker, is pleased to announce that it has exchanged contracts and reached an agreement to acquire certain assets of British Steel."

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