Tata Steel UK to sell specialty unit

Tata Steel UK has signed a £100 million ($126 million) deal to sell its speciality steel business to Liberty House Group, as the firm’s Indian owner Tata Steel presses on with restructuring its European operations.

The deal, which is subject to regulatory clearances, secures 1,700 jobs, mostly in South Yorkshire in the north of England, Britain’s largest steelmaker said.