Its looking like Evraz Steel in Regina, will have new ownership.

The company announced on its website it is prepared to sell its North American interests.

The company operates a facility in Regina, which make tubular pipe, coil and steel plate.

Evraz Steel is owned by Russian billionaire Roman Abramovich, who has the controlling share.

It has come under scrutiny, and potential sanctions as a result of the Russian invasion of Ukraine.

The company claims it will not be talking about this anymore until a deal is finalized, and regulatory approval is given.