Global law firm White & Case LLP has advised Apollo Funds on the sale of their 28.4 percent voting interest and 27.5 percent equity stake in Vallourec to ArcelorMittal for a total consideration of €955 million, representing 65.2 million ordinary shares at a price of €14.64 per share.
The transaction represents the end of the financial restructuring of Vallourec, a world leader in premium tubular solutions, that was initiated in 2021 when Apollo Funds became the company’s main shareholder. The acquisition is expected to complete during the second half of 2024, following usual regulatory approvals.
White & Case previously advised Vallourec’s ad hoc group of cross-holders (bonds and RCF holders), led by Apollo, SVP, Bybrook and M&G, on its financial restructuring in 2021.
The White & Case team which advised on the transaction was led by partners Saam Golshani, Franck De Vita and Hugues Racovski (all Paris), and included partners Denise Diallo, Estelle Philippi, Jérémie Marthan, Orion Berg (all Paris), Tilman Kuhn (Düsseldorf & Brussels), Farhad Jalinous (Washington, DC), Taurie Zeitzer and Frank Lupinacci (both New York), and associates Nicolas Alfonsi, Chloé Bouffard, Claire Sardet, Louis Roussier (all Paris) and Tim Sensenig (Washington, DC).
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Read the orginal article: https://www.whitecase.com/news/press-release/white-case-advises-apollo-funds-sale-stake-vallourec-arcelormittal
