“Based on the discussions, initiated by SSAB Sweden, regarding a potential acquisition of Tata Steel’s Netherlands business, we will undertake a due process and move to the next stages including consultation and due diligence,” said Tata Steel executive director and chief financial officer Koushik Chatterjee. 

The sale would primarily include Tata’s IJmuiden mill, which produces sheet and coated sheet for the automotive, construction, engineering and packaging industries. 

SSAB confirmed that it is in talks with Tata Steel Europe on acquiring the mill and related downstream assets in the Netherlands. 

“SSAB has participated in several different discussions concerning consolidations in the European steel industry. The discussions with Tata are ongoing but no decisions have been made,” SSAB said in a statement. 

Meanwhile, Tata said it will pursue a separate strategic path for its operations in the U.K. 

“Tata Steel continues its dialogue with the U.K. government on potential measures to safeguard the long-term future of Tata Steel UK and is also reviewing all options to make the business self-sustaining without the need for any funding support from Tata Steel India in the future,” it said.