15
Nov
11:09
Vallourec takes majority share in Chinese seamless tubemaker
French tube maker Vallourec has finalised the acquisition of a majority stake of 50.61% in the Chinese company Anhui Tianda Oil Pipe Company Limited (TOP). By doing so it has increased its total stake to 70.07%, Kallanish learns from Vallourec.
“The two transactions value TOP’s share (50.61% + 29.93%) at approximately $175 million”, Vallourec clarifies in a note.
TOP is a Chinese manufacturer of seamless tubes listed on the Hong Kong Stock E…
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