Luxembourg-based Tenaris SA announced Thursday that following the approval from CVM (Brazil's securities regulator) and the Sao Paulo stock exchange, it has launched its delisting tender offer to acquire all of the public shares in Brazilian pipe producer Confab Industrial SA.
Tenaris announced the initial plans in January and has offered R5.85 (US$3.21) per ordinary or preferred share of Confab. Tenaris expects to announce the results on April 23, 2012.