Vallourec continues to implement its strategic plan with the arrival of ArcelorMittal, new reference shareholder
VALLOUREC SA SP/ADR (VLOWY)
NASDAQ:AMEX Investor Relations:
vallourec.com/en/group/finance/investor_relations/pages/default.aspx
Company Research
Source: GlobeNewswire
Vallourec continues to implement its strategic plan with the arrival of ArcelorMittal, new reference shareholder Meudon (France), March 12th, 2024, Vallourec, a world leader in premium tubular solutions, announces today that ArcelorMittal has reached an agreement to purchase Apollo’s stake in Vallourec (65,243,206 shares) representing 28,4% of the voting rights and 27,5% of the share capital, at a price of €14,64 per share, for a total purchase price of €955 million. This marks the final step of the financial restructuring of Vallourec that was initiated in 2021, when Apollo became Vallourec’s reference shareholder. This new investment by a world-class industrial player speaks to the breadth of the operational turnaround executed since that time, as well as the robust outlook for the premium seamless tubes business over the coming years. Vallourec welcomes the transition in reference shareholder from Apollo, the leader of Vallourec’s successful financial restructuring, to Arce
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