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Liberty Steel in lifeline talks

The BBC understands that Sanjeev Gupta's beleaguered UK steel business may yet secure a £200m lifeline.
The owner of Liberty Steel is in talks about a loan facility from California-based investment firm White Oak Global Advisors.
The arrangement is at a preliminary stage but a skeleton agreement - a so called "term sheet" has been drafted.
Any loan would need the approval of Gupta Family Group's creditors which include Credit Suisse and Tata Steel.
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