Vallourec announces the completion of the acquisition by ArcelorMittal of the entire shareholding of the Apollo funds at a price of 14.64 euros per share, for a total purchase price of 955 million euros, subject to settlement-delivery of the shares.

Completion of the acquisition is subject to obtaining all necessary regulatory approvals. With 28.4% of the voting rights and 27.5% of the capital of the tube manufacturer, the steelmaker becomes the 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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