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The Guardian - UK
The Guardian - UK
Business
Jasper Jolly

British Steel’s Chinese owners weigh attempt to recover millions in debts

British Steel Jingye PwC Jingye Group United Kingdom
A worker at one of the blast furnaces at British Steel’s site in Scunthorpe
A worker at one of the blast furnaces at British Steel’s site in Scunthorpe. Photograph: Darren Staples/AP

The Chinese owners of British Steel are gearing up to try to recover hundreds of millions of pounds of loans from the company after the UK government took over its operations.

Jingye Group said it was assessing the chances of recovering hundreds of millions of pounds in debts owed to it by British Steel, and is thought to have engaged advisers at the accountancy firm PwC to work out a valuation for the business.

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