18 Dec 2019 07:00
December 18, 2019 PRESS RELEASE
TMK Announces the U.S. Department of Justice approved Tenaris's acquisition of IPSCO Tubulars from TMK
Inside information: This announcement does not contain inside information.
Forward-looking statements: The following contains forward-looking statements concerning future events. These statements are based on current information and assumptions of TMK management concerning known and unknown risks and uncertainties.
December 18, 2019 - PAO TMK announces that the U.S. Department of Justice (DOJ) has closed its investigation of Tenaris's proposed acquisition of IPSCO Tubulars, Inc. from PAO TMK.
The proposed transaction was entered into on March 22, 2019 pursuant to a Stock Purchase Agreement between PAO TMK, one of the world's leading producers of tubular products for the oil and gas industry, and a wholly owned subsidiary of Tenaris, an international producer of seamless and welded pipe. TMK expects to be able to consummate the transaction shortly.
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TMK (www.tmk-group.com)
ТМК (www.tmk-group.com) is a leading global manufacturer and supplier of steel pipes for oil and gas industry, operating over 20 production sites in the United States, Russia, Canada, Romania and Kazakhstan with two R&D centers in Russia and the U.S.. The largest share of TMK's sales belongs to high margin oil country tubular goods (OCTG), shipped to customers in over 80 countries. TMK delivers its products along with an extensive package of services in heat treating, protective coating, premium connections threading, warehousing and pipe repairing. TMK's securities are listed on the London Stock Exchange and on the Moscow Exchange MICEX-RTS.