ArcelorMittal Raises $667 Million From Vallourec Sale
The world's second largest steelmaker sold 23.9 million shares in the French tubes maker for 24 euros each. ArcelorMittal will retain a 17.3 percent stake in the company and remains supportive of its current management team.
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ARCELORMITTAL raised $667 million by selling a 10% stake in France-based steel tubes manufacturer VALLOUREC SA. The Luxembourg-based steelmaker originally bought a 28.4% stake in March 2024, when shares traded at 16 euros and the company was valued at 3.3 billion euros. The sale allows ArcelorMittal to lock in a 75% gain on that investment while retaining a 17.3% position in the supplier.
