Crypto fund bids for one of UK’s biggest steel producers
A crypto fund is among a clutch of overseas suitors vying to seize control of one of Britain’s biggest steel producers.
EIG Global Trust, which invests using cryptocurrencies pegged to a stable asset such as gold or the US dollar, is in talks to acquire Speciality Steel UK out of bankruptcy.
Speciality Steel is the UK’s third-biggest steelmaker and the largest producer of so-called green steel. Until last summer it was owned by metals tycoon Sanjeev Gupta’s Liberty Steel.
The Delaware-based EIG Global Trust is on a six-name shortlist of potential bidders for some, or all, of the business drawn up by the government’s official receiver. EIG is thought to want to buy the business outright.
The others are understood to include 7…
