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Due diligence for Tata Steel Netherlands biz to complete by December end

The country's oldest steel producer is currently in talks with SSAB Sweden for the sale of its Dutch operations, as it seeks to make a full exit

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Meanwhile, the company is pursuing separate strategic road maps for the Netherlands and UK businesses. | Representative Image

Aditi Divekar Mumbai

3 min read Last Updated : Nov 17 2020 | 11:55 PM IST

Tata Steel, the country’s oldest steel producer, in talks with SSAB Sweden for selling its Netherlands business, expects due diligence to complete by the end of December, paving the way for a sizeable reduction in its debt.

“Our current proposal is to fully exit the business and we plan to use the proceeds for deleveraging the balance sheet. There is no plan to keep stake in the business as of now, but such things usually get finalised during negotiations and binding agreements, which come after due diligence,” Koushik Chatterjee, executive director and chief financial officer at Tata Steel, told reporters on

Topics : Tata Steel Netherlands Steel sector Tata Steel UK

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