Tenaris has announced that Benteler North America Corporation has exercised its right to unilaterally terminate, effective immediately, the previously-announced agreement for the sale to Tenaris of 100% of the shares of US steel pipe producer Benteler Steel & Tube Manufacturing Corporation.Tenaris had entered into a definitive agreement in July 2022 to acquire from Benteler North America Corporation, a Benteler group company, 100% of the shares of Benteler Steel & Tube Manufacturing Corporation for an aggregate price of USD 460 million, on a cash-free, debt-free basis. Benteler Steel & Tube Manufacturing Corporation is a Us producer of seamless steel pipe, with an annual pipe rolling capacity of up to 400,000 tonnes at its production facility located in Shreveport in Louisiana.
Tenaris has announced that Benteler North America Corporation has exercised its right to unilaterally terminate, effective immediately, the previously-announced agreement for the sale to Tenaris of 100% of the shares of US steel pipe producer Benteler Steel & Tube Manufacturing Corporation.Tenaris had entered into a definitive agreement in July 2022 to acquire from Benteler North America Corporation, a Benteler group company, 100% of the shares of Benteler Steel & Tube Manufacturing Corporation for an aggregate price of USD 460 million, on a cash-free, debt-free basis. Benteler Steel & Tube Manufacturing Corporation is a Us producer of seamless steel pipe, with an annual pipe rolling capacity of up to 400,000 tonnes at its production facility located in Shreveport in Louisiana.
