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12 Mar

ArcelorMittal agrees to buy 28% stake in Vallourec

ArcelorMittal has agreed to acquire 28.4% of French tubing producer Vallourec for approximately €955 million ($1.09 billion), Kallanish learns from a press release issued by the Luxembourg-based steelmaking giant late Tuesday. ArcelorMittal will purchase 65.2 million Vallourec shares for €14.64/share from funds managed by Apollo Global Management. The parties expect to close the transaction in the second half of 2024, pending regulatory approvals. Arce…
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