Leading seamless steel pipe maker Tenaris has entered into a definitive agreement to acquire from Benteler North America Corporation 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. The acquisition will include USD 52 million of working capital. 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. The acquisition would further expand Tenaris’s production range and local manufacturing presence in the US market.The transaction is subject to regulatory approvals, including approval by the US antitrust authorities, consent by Louisiana Economic Development and other local entities, and other customary conditions. Closing is expected to occur during the fourth quarter of 2022.Tenaris is a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications.
Leading seamless steel pipe maker Tenaris has entered into a definitive agreement to acquire from Benteler North America Corporation 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. The acquisition will include USD 52 million of working capital. 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. The acquisition would further expand Tenaris’s production range and local manufacturing presence in the US market.The transaction is subject to regulatory approvals, including approval by the US antitrust authorities, consent by Louisiana Economic Development and other local entities, and other customary conditions. Closing is expected to occur during the fourth quarter of 2022.Tenaris is a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications.
