What funding was given to Excalibur during the steel crisis in 2016 to support its work in developing a proposal to purchase the UK steel operations of TATA, was this funding offered as a grant or a loan or a combination, and what guarantees were sought from Excalibur?
Answered by Cabinet Secretary for Economy and Transport | Answered on 20/09/2018
I would refer you to my previous response to your Written Assembly Questions reference 71987 – 71991 on this matter and my subsequent letter to you of 6 November, 2017. Since that response, I can confirm that Tata Steel and Thyssenkrupp have signed a definitive agreement to form a joint venture to combine their European steel businesses. My officials have been advised that as a consequence, Excalibur Steel Ltd is to be wound up.