# Jingye Steel completes acquisition of British Steel assets

Jingye Steel acquired the business and assets of British Steel from the Official Receiver, including the Scunthorpe steelworks and UK mills, saving approximately 3,200 jobs, with a pledge to invest £1.2 billion over 10 years.

- Type: Acquisition
- Announced: 2020-03-10
- Where: Scunthorpe, Teesside, Skinningrove, Cumbria, United Kingdom
- Value: $1.56B (1.20B GBP)
- Jobs: 3,200
- Status: completed
- 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)
- [Jingye Steel](https://endata.com/companies/45829.md) (acquirer)

## Sources

- [accountancydaily.co](https://www.accountancydaily.co/ey-completes-british-steel-sale-jingye), 2020-03-10: "The sale of British Steel is the culmination of nine months of work to transition this business to a new owner committed to its future."

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