Greybull Capital favourite to buy Tata Steel's UK-based unit: sources

London

INVESTMENT firm Greybull Capital has emerged as a favourite to buy Tata Steel's struggling UK-based unit, in a move that could offer some relief to Britain's troubled steel sector.

The country's largest steelmaker has been trying to sell its long products unit, which makes steel used in construction, since last year with increasing urgency as a global steel crisis intensified and prices hit decade lows.

Two industry sources said that Greybull, which last year rescued British holidays and airline company Monarch, is favo…