The sale of Tata Steel's Scunthorpe plant to an investment company has been completed overnight.
Greybull Capital now owns Tata Steel's Scunthorpe plant and its Long Products Europe business - which includes a design consultancy in York.
Thousands of jobs have been saved at Tata Steel in Scunthorpe after its sale went through overnight. The plant was under threat of closure if owners Tata steel could not find a buyer. Investment firm Greybull Capital agreed in principal to buy the steel giant's long products division last month. The deal has now been confirmed.
Unions welcome the sale of Scunthorpe steelworks to an investment firm as a 'massive vote of confidence' in the town.
There's a another possible lifeline for 2,000 South Yorkshire steel jobs with a potential Tata management buyout
The Commons debate, which is scheduled to last up to three hours, has been given an emergency slot amid growing fears for the industry.