Tenaris acquires Romanian Silcotub
According to the statement released by
Luxembourg-based seamless
pipe producer Tenaris S.A, the company has recently acquired Tubman International Ltd following a swift negotiation.
As reported by SteelOrbis back in June, Tenaris completed the negotiations regarding the takeover of Silcotub unsuccessfully. However the recently acquired Tubman International Ltd holds 84.86% stake in the Romanian seamless
pipe producer Silcotub. Moreover Tenaris acquired controlling stakes in three subsidiaries of Tubman.
The deal has been concluded at $42 million.