Tenaris Seeks Approval to Launch Tender Offer for Confab Shares
(firmenpresse) - LUXEMBOURG -- (Marketwire) -- 08/29/11 -- Tenaris S.A. (NYSE: TS) (BAE: TS) (MXSE: TS) (MILAN: TEN) announced today that it filed a request with CVM (Brazil's securities regulator) and the Sao Paulo stock exchange seeking their approval to a public delisting tender offer to acquire all of the ordinary and preferred shares held by the public in its controlled Brazilian subsidiary Confab Industrial S.A. The offer, which would be made pursuant to applicable Brazilian laws and regulations, would be subject to customary conditions.
If the offer is approved, Tenaris will offer to pay a price in cash of Brazilian real, or BRL, 5.20 per ordinary or preferred share, which represents a premium of approximately 32% to Confab's closing price of August 26, 2011, and a premium of approximately 35% to its 20-trading day volume weighted average price. Tenaris currently owns 99% of Confab's ordinary shares, which represent 99% of the voting rights and 41% of the share capital. If all Confab shares not already owned by Tenaris are acquired, the transaction would be valued at BRL 1,243 million (or, at the BRL/US$ exchange rate as at the close of August 26, approximately US$ 775 million).
Confab is a leading Brazilian producer of welded steel pipes and industrial equipment for the energy industry and other applications.
Tenaris is a leading global supplier of steel tubes and related services for the world's energy industry and certain other industrial applications.
Giovanni Sardagna
Tenaris
1-888-300-5432
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 29.08.2011 - 07:02 Uhr
Sprache: Deutsch
News-ID 1034650
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
LUXEMBOURG
Phone:
Kategorie:
Coal
Anmerkungen:
Diese Pressemitteilung wurde bisher 135 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Tenaris Seeks Approval to Launch Tender Offer for Confab Shares
"
steht unter der journalistisch-redaktionellen Verantwortung von
Tenaris S.A. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
