The American investment fund Apollo is selling its 28.4% to the steelmaker. ArcelorMittal will also have two representatives on the Vallourec board of directors.
The merger should allow the steel giant to strengthen its expertise in downstream applications. This is also part of the Steel giant's strategy to stronger its position in decarbonization and the energy transition. The operation, which has yet to receive the green light from competition authorities, should be completed in the fourth quarter of 2024.