03
Jan
14:02
Tenaris closes US IPSCO acquisition
Tenaris has completed acquisition of US steel pipe products manufacturer IPSCO Tubulars from Russian pipemaker TMK, the companies confirm.
The deal, inked in March for a total consideration of $1.209 billion, was closed on a cash-free debt-free basis with cash payment of $1,067 billion, including $220 million of working capital, for 100% holding. Tenaris will consolidate IPSCO's balance sheet and operational results from the first quarter of 2020, it says…
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