British Steel’s owners charging company £20m a year in fees and interest

Private equity fund Greybull Capital, which owns Scunthorpe steelworks, is seeking government aid

The multi-millionaires who bought British Steel for £1 in 2016 and are now seeking financial aid from the government are charging £20m a year in fees and interest from the company.

Marc Meyohas and Richard Perlhagen are in talks with British Steel’s lenders over a £75m rescue package that is understood to be at risk of falling apart unless the government contributes.

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From our friends over at the : Business | The Guardian

 

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