The European Union regulators today approved German steelmaker Salzgitter AG's buyout of French group Vallourec SA's Vallourec Precision Etirage (VPE).
Having carefully investigated whether the acquisition will result in antitrust problems, the European Commission decided that the acquisition will not result in such problems and announced that it approved the deal.
The cost of the deal has not been disclosed.
VPE, a subsidiary of Vallourec SA, specializes in the production of cold drawn precision tubes.