ArcelorMittal : Investment in Vallourec: strategic appeal but few synergies, next step is probably a takeover
>A modest deal at the scale of the group, coming after the US Steel failure - ArcelorMittal announced yesterday evening the acquisition of Apollo’s 28.4% stake in Vallourec for € 955m, a deal that values the seamless tubes group at € 3.5bn (on a diluted basis). ArcelorMittal thereby becomes the leading shareholder in Vallourec with two seats on the board previously held by Apollo. The closing of the deal is subject to regulatory approval and should be completed in the...ArcelorMittal is a steel company, based in Luxembourg, with operations in more than 60 countries. Co. is active in all major global steel markets, including automotive, construction, household appliances and packaging, as well as activities in Research & Development and technology, with captive supplies of raw materials and its own distribution network. Co. has an industrial presence in over 20 countries spanning four continents, covering key steel markets, from emerging to mature. Co. offers a complete spectrum of steel products from commodity steel to value-added products, from long products to flat, from standard to specialty products, from carbon steel to stainless steel and alloys.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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