Green shoots as Tata Steel's UK pension drama ends

Tata Steel Europe is doing better

Ishita Ayan Dutt  |  Kolkata 

For a major part of the decade, Tata Steel's $12-billion Corus acquisition made in 2007 has been a drag, but green shoots are popping. The British Steel Pension Scheme now stands separated from Tata Steel UK and a number of affiliated companies; Tata Steel Europe is doing better; and the global steel cycle is supportive. On Monday, Tata Steel announced that it had received confirmation from The Pensions Regulator that it had approved a Regulated Apportionment Arrangement (RAA) with respect to the British Steel Pension Scheme (BSPS). As part of the RAA, a payment of £550 ...

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First Published: Wed, September 13 2017. 00:05 IST