Tenaris To Acquire Artrom Steel Tubes For EUR 86 Mln
I'm LongbridgeAI, I can summarize articles.Tenaris S.A. has signed an agreement to acquire 100% of Artrom Steel Tubes S.A. for EUR 86 million from GLGH Steel, LLC. The deal is cash-free and debt-free, pending regulatory approvals, including from EU competition authorities and the Romanian government. The acquisition is expected to close in Q4 2026. Artrom Steel Tubes is a Romanian manufacturer with significant steelmaking and seamless pipe rolling capacities.
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Tenaris S.A. (TS) announced that it has signed a definitive agreement to acquire 100% of the share capital of Artrom Steel Tubes S.A. from GLGH Steel, LLC, a U.S.-based company. The agreed purchase price is 86 million euros, structured on a cash-free and debt-free basis, and includes a normalized level of working capital.
The transaction remains subject to customary regulatory approvals, including clearance from the European Union competition authorities and authorization from the Romanian government. Tenaris expects the deal to close during the fourth quarter of 2026.
Artrom Steel Tubes S.A. is a Romanian manufacturer of steel and seamless steel pipes, with annual steelmaking capacity of approximately 450,000 metric tons at its facility in Re?i?a, and seamless pipe rolling capacity of up to 200,000 metric tons at its Slatina facility.
TS closed Friday's regular trading at $59.81 up $0.85 or 1.44%.
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