ArcelorMittal S.A., a leading name in the steel and mining industry, has announced its plans to acquire a 28.4% stake in Vallourec. The transaction, negotiated with the Apollo Global Management Inc. is valued at approximately 955 million euros.
The deal is set to conclude in the latter half of the year, subject to meeting all standard closing conditions. ArcelorMittal has further clarified that there are no immediate plans to put forward a tender offer for the remaining shares of Vallourec within the upcoming six months.
Post its financial restructuring, Vallourec has Apollo Funds as its biggest equity investor since 2021.
