Regulatory Story
Go to market news section View chart   Print
RNS
PAO TMK   -  TMKS   

Approval of IPSCO sale

Released 07:00 18-Dec-2019

RNS Number : 2873X
PAO TMK
18 December 2019
 



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.

 

***

For further information regarding TMK, please, visit www.tmk-group.com or download the YourTube iPad application from the App Store.

 

or contact:

 

TMK IR Department:

Irina Yarotskaya

Tel: +7 (495) 775-7600

IR@tmk-group.com

 

TMK PR Department:

Fedor Klimkin

Tel: +7 (495) 775-7600

PR@tmk-group.com

 

International Media Relations:

Emily Dillon / Maria Shiryaevskaya

Tel: +44 (0) 20 7796 4133

Edillon@hudsonsandler.com

***

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.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCEAKAPFDFNFEF
Close


London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.

 


Approval of IPSCO sale - RNS