British government is helping Tata Steel to find a buyer for its UK business

British government is helping Tata Steel to find a buyer for its UK businessAfter Tata Steel disclosed its plans to sell its entire UK business, there have been speculations that around 15,000 jobs may be lost.

To deal with this crisis, the UK has said it will appoint independent advisors once the sale of Tata Steel's UK business commences.
The UK along with the Welsh government will help Tata Steel in securing a buyer for the country's largest steelmaker.

"Business Secretary Sajid Javid will today visit Port Talbot, where Tata Steel UK's largest plant is based, to meworkers and the management," UK government said in a statement.

Tata Steel, one of the flagship firm of the over USD 100 billion Indian conglomerate Tata Group, earlier this week disclosed plans to sell its entire UK business.

The move has threatened over 15,000 jobs amid a deepening crisis in the UK's once-storied sector that the Indian conglomerate had entered nearly a decade ago with a USD 14-billion takeover with much fanfare.

It added that as Prime Minister David Cameron has already said, the UK government intervention helped ensure that Tata announced a sales process for Port Talbot, rather immediate closure allowing ministers to play an active part in finding a sustainable solution, including engaging with market for potential buyers.