Steel manufacturer Tenaris S.A. (TS) produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry and other industrial applications. It is based in Luxembourg.
Earlier this month, the company announced its agreement to acquire 100% of the shares of U.S. seamless steel pipe producer Benteler Steel & Tube Manufacturing Corp, for an aggregate price of $460 million, on a cash-free, debt-free basis. The acquisition will include $52 million of working capital and is expected to close during the fourth quarter of 2022.
