A letter of intent has been signed by the Tata Steel with Liberty House for selling its UK speciality steel business.

The deal, that also covers several South-Yorkshire based  assets, is being pegged at an enterprise value of £100 million.

The announcement has been in line with Tata Steel’s overall restructuring strategy of its UK portfolio.

The letter provides Liberty House the right of entering into exclusive negotiations for the potential sale of steel assets.

Read EquityPandit’s Technical Analysis of Indian Stock Market