Czech energy group hints at combined bid for British Steel and Speciality Steel UK
Czech energy group Sev.en Global Investments, owned by billionaire Pavel Tykač, has suggested combining British Steel and Speciality Steel UK under a single buyer to create the UK’s largest steelmaker. The company plans a £100m investment in its UK assets and could invest hundreds of millions more through its 7 Steel brand. Sev.en’s CEO, Alan Svoboda, emphasized the need for experienced industrial buyers and highlighted the potential for expanded downstream operations and lower-emission steel production.
- ▪Sev.en Global Investments owns the UK’s largest electric steelworks, acquired from Spanish group Celsa in Cardiff.
- ▪The UK government took control of British Steel in April 2025 due to concerns over its Chinese owner Jingye, and SSUK was placed under the official receiver after being declared insolvent.
- ▪Alan Svoboda, CEO of Sev.en, suggested a combined buyer for British Steel and SSUK could reduce taxpayer support and create a more sustainable steel industry.
- ▪Any bid would require the government to end exclusive talks with Norwegian startup Blastr over SSUK and reach compensation terms with Jingye.
- ▪Sev.en cited the UK’s new 50% tariffs on steel imports as a key factor encouraging further investment in domestic steel production.
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Steel production at the electric arc steelworks in Cardiff, which Sev.en bought from the Spanish group Celsa. Photograph: Dimitris Legakis/Athena PicturesView image in fullscreenSteel production at the electric arc steelworks in Cardiff, which Sev.en bought from the Spanish group Celsa. Photograph: Dimitris Legakis/Athena PicturesSteel industryCzech energy group hints at combined bid for British Steel and Speciality Steel UKExclusive: Sev.en Global Investments could turn state-owned businesses into Britain’s biggest steelmaker Business live – latest updates Jasper JollyFri 1 May 2026 09.00 EDTLast modified on Fri 1 May 2026 09.01 EDTSharePrefer the Guardian on GoogleThe owner of the UK’s largest electric steelworks has said the government should find a single buyer for British Steel and…
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