SSAB Calls off Plan to acquire TATA Steel Netherlands BV
Code : MAA0230 |
Region : Europe |
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Introduction: In November 2020, the TATA Steel Europe (TSE) division of TATA Steel Limited India (TSL) was in discussions with Sweden-based steel maker SSAB AB (SSAB) for the sale of its Netherlands steel making unit IJmuiden steel mill and related downstream assets. TSE operated around 228 different companies in Europe. The TATA Steel UK Limited, and Orchid Netherlands BV were primarily engaged in the business of processing of raw steel and manufacturing steel products. But in January 2021, SSAB announced that it was not going ahead with the deal as the possibilities of integrating IJmuiden with itself were limited and the acquisition would be difficult for technical reasons.. |
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