November 11, 2019 / 11:58 AM / a month ago

Turkey's Oyak says acquisition talks with British Steel ended

ISTANBUL (Reuters) - Turkish army pension fund Oyak said on Monday that its subsidiary Ataer Holding had ended talks to buy British Steel after deciding the acquisition was not commercially viable.

Turkey’s military pension fund OYAK had reached a provisional agreement to take over British Steel. But the deal was in jeopardy as exclusive negotiations with Oyak approached a deadline in October without an agreement.

Reporting by Ceyda Caglayan; Writing by Ali Kucukgocmen; Editing by Jonathan Spicer

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