Vallourec: Apollo shares acquired by ArcelorMittal

(CercleFinance.com) - Vallourec announces that it ArcelorMittal has acquired the entire shareholding of Apollo funds at a price of E14.
64 per share, with a total purchase price of E955m, subject to settlement-delivery of the shares.

The acquisition's completion is subject to all necessary regulatory approvals. With 28.4% of the voting rights and 27.5% of the capital of the tube manufacturer, the steelmaker becomes its reference shareholder.

The shareholder agreement between Vallourec and the Apollo funds has been terminated and a new agreement has been concluded between Vallourec and ArcelorMittal. ArcelorMittal does not intend to launch a public offer for the remaining Vallourec shares in the next six months.


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