ArcelorMittal announced that following the signature of a Share Purchase Agreement and after the approval of relevant antitrust authorities and clearances under foreign investment regulations, it has completed the acquisition of 65,243,206 shares, representing c.28.4[1]% equity interest in Vallourec, subject to successful completion of the settlement.
Following completion of this transaction, the appointment of Mr. Genuino Magalhaes Christino (Chief Financial Officer, ArcelorMittal) as director of Vallourec will become effective; Keith Howell (Chief Operating Officer, ArcelorMittal USA) will be appointed as director of Vallourec; and Aditya Mittal as observer of Vallourec, subject to successful completion of the settlement.
Courtesy of ArcelorMittal.