Vallourec : Apollo Out / ArcelorMittal In
>Apollo sells its 28.4% stake to ArcelorMittal - Yesterday, ArcelorMittal announced that it had signed an agreement for the acquisition of 65,243,206 shares, representing around 28.4% of Vallourec's capital for € 14.64/share with Apollo Global Management, Inc., revealing a discount of 1.3% vs the last closing share price. As a reminder, Apollo entered Vallourec’s capital at the time of the financial restructuring via the debt-to-equity conversion. The total ...Vallourec SA is a France-based company, which specializes in the production of seamless and welded steel tube products for industrial applications. It operates through two segments: Seamless Tubes and Specialty Products. For the oil and gas industry, it designs and develops a comprehensive range of products including seamless tubes and connections for drilling operations, line pipes and well equipment. For the power generation market, it offers tubes that withstand severe temperature and pressure conditions. Its solutions enable power companies to meet the challenges of energy efficiency and reduce CO2 emissions in power plants. It also offers a wide range of tubes for petrochemical installations (refineries), for mechanical engineering applications (hydraulic cylinders and machine tools), for the automotive industry, for construction (stadiums, other complex buildings and structures) and for various other industrial sectors. It operates through Vallourec Solucoes Tubulares do Brasil.
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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