(Tiper Stock Exchange) – Tenaris announces that the Brazilian subsidiary Confab Industrialtogether with Ternium Investments and Ternium Argentina, headed by the T/T group, have completed the acquisition previously announced by 68.7 million USIMINAS ordinary shares – Usinas Siderúrgicas de Minas Gerais by Nippon Steel Corporation, Mitsubishi and MetalOne at a value of 10 Brazilian reals per share ordinary.
Following the transaction, Tenaris he paid in cash approx 110 million Brazilian reals (approximately $23 million) for the purchase of 11 million ordinary sharesby increasing their own 9.8% stake in USIMINAS.
As previously announced, upon closing of the transaction, the USIMINAS shareholders’ agreementwhich governs the relationship with the T/T group, the NSC group and Previdência Usiminas, has been modified to reflect revised governance.