ArcelorMittal has announced the sale of approximately 23.9 mln shares in Vallourec, representing around 10pct of the French steel pipe producer’s outstanding share capital, through an accelerated bookbuilding process to institutional investors.
The shares were sold at EUR 24 per share, generating gross proceeds of around USD 667 mln.
Following the transaction, ArcelorMittal will retain around 17.3pct stake in Vallourec and continue to hold one seat on the company’s Board of Directors.
The steelmaker said the transaction reflects its disciplined capital allocation and portfolio management strategy, adding that proceeds from the sale will be returned to shareholders through its ongoing share buyback program.
ArcelorMittal also stated that it remains supportive of Vallourec’s strategy and management and continues to view the company as a high-quality business with a strong market position.
Headquartered in Meudon, France, Vallourec operates in more than 20 countries, with key production hubs in the US and Brazil. The company is a global leader in premium seamless tubular solutions for the oil and gas industry, with annual production capacity of 2.1 mln tons.
ArcelorMittal is one of the world’s largest integrated steel and mining companies, operating in 60 countries with primary steelmaking facilities in 14 countries. The company is the leading steel producer in Europe and has major operations across the Americas and Asia through its AM/NS India joint venture. In 2025, ArcelorMittal produced 55.6 mln tons of crude steel and 48.8 mln tons of iron ore.