{"id":767610,"date":"2023-07-03T17:11:55","date_gmt":"2023-07-03T21:11:55","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/tenaris-completes-acquisition-of-additional-participation-in-usiminas-control-group\/"},"modified":"2023-07-03T17:11:55","modified_gmt":"2023-07-03T21:11:55","slug":"tenaris-completes-acquisition-of-additional-participation-in-usiminas-control-group","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/tenaris-completes-acquisition-of-additional-participation-in-usiminas-control-group\/","title":{"rendered":"Tenaris Completes Acquisition of Additional Participation in Usiminas Control Group"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">LUXEMBOURG, July  03, 2023  (GLOBE NEWSWIRE) &#8212; Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) reported today that its Brazilian subsidiary Confab Industrial S.A., together with its affiliates Ternium Investments and Ternium Argentina, all of which compose the T\/T group within the Usiminas control group, completed the previously announced acquisition of 68.7 million ordinary shares of Usinas Sider\u00fargicas de Minas Gerais S.A. \u2013 USIMINAS (\u201cUsiminas\u201d) from Nippon Steel Corporation, Mitsubishi and MetalOne (the \u201cNSC group\u201d), pro rata to their current participations in the T\/T group within the Usiminas control group, at a price of BRL 10 per ordinary share.<\/p>\n<p align=\"justify\">Pursuant to the transaction, Tenaris paid approximately BRL 110 million (approximately USD 23 million) in cash for 11.0 million ordinary shares, increasing its participation in the Usiminas control group to 9.8%.<\/p>\n<p align=\"justify\">As previously announced, upon closing of the transaction, the Usiminas shareholders agreement, which governs the relationship with the T\/T Group, the NSC group and Previd\u00eancia Usiminas, was amended and restated to reflect a revised governance for Usiminas.<\/p>\n<p align=\"justify\">\n        <em>Some of the statements contained in this press release are \u201cforward-looking statements.\u201d Forward-looking statements are based on management\u2019s current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements.<\/em>\n      <\/p>\n<p>\n        <em>Tenaris is a leading global supplier of steel tubes and related services for the world\u2019s energy industry and certain other industrial applications.<\/em>\n      <\/p>\n<p>Giovanni Sardagna<br \/>Tenaris<br \/> 1-888-300-5432<br \/>www.tenaris.com<\/p>\n<p \/>\n      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg2ODU3NyM1Njc1OTEyIzIwMDY0NTQ=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/MWI5NWE2MjktMzliZC00YTM0LThmZDctMzQ0NzNiMWJlNjliLTEwMTgwMjc=\/tiny\/Tenaris-SA.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>LUXEMBOURG, July 03, 2023 (GLOBE NEWSWIRE) &#8212; Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) reported today that its Brazilian subsidiary Confab Industrial S.A., together with its affiliates Ternium Investments and Ternium Argentina, all of which compose the T\/T group within the Usiminas control group, completed the previously announced acquisition of 68.7 million ordinary shares of Usinas Sider\u00fargicas de Minas Gerais S.A. \u2013 USIMINAS (\u201cUsiminas\u201d) from Nippon Steel Corporation, Mitsubishi and MetalOne (the \u201cNSC group\u201d), pro rata to their current participations in the T\/T group within the Usiminas control group, at a price of BRL 10 per ordinary share. Pursuant to the transaction, Tenaris paid approximately BRL 110 million (approximately USD 23 million) in cash for 11.0 million &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/tenaris-completes-acquisition-of-additional-participation-in-usiminas-control-group\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Tenaris Completes Acquisition of Additional Participation in Usiminas Control Group&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-767610","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tenaris Completes Acquisition of Additional Participation in Usiminas Control Group - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/tenaris-completes-acquisition-of-additional-participation-in-usiminas-control-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tenaris Completes Acquisition of Additional Participation in Usiminas Control Group - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"LUXEMBOURG, July 03, 2023 (GLOBE NEWSWIRE) &#8212; Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) reported today that its Brazilian subsidiary Confab Industrial S.A., together with its affiliates Ternium Investments and Ternium Argentina, all of which compose the T\/T group within the Usiminas control group, completed the previously announced acquisition of 68.7 million ordinary shares of Usinas Sider\u00fargicas de Minas Gerais S.A. \u2013 USIMINAS (\u201cUsiminas\u201d) from Nippon Steel Corporation, Mitsubishi and MetalOne (the \u201cNSC group\u201d), pro rata to their current participations in the T\/T group within the Usiminas control group, at a price of BRL 10 per ordinary share. Pursuant to the transaction, Tenaris paid approximately BRL 110 million (approximately USD 23 million) in cash for 11.0 million &hellip; Continue reading &quot;Tenaris Completes Acquisition of Additional Participation in Usiminas Control Group&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/tenaris-completes-acquisition-of-additional-participation-in-usiminas-control-group\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-03T21:11:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg2ODU3NyM1Njc1OTEyIzIwMDY0NTQ=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tenaris-completes-acquisition-of-additional-participation-in-usiminas-control-group\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tenaris-completes-acquisition-of-additional-participation-in-usiminas-control-group\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Tenaris Completes Acquisition of Additional Participation in Usiminas Control Group\",\"datePublished\":\"2023-07-03T21:11:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tenaris-completes-acquisition-of-additional-participation-in-usiminas-control-group\\\/\"},\"wordCount\":257,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tenaris-completes-acquisition-of-additional-participation-in-usiminas-control-group\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODg2ODU3NyM1Njc1OTEyIzIwMDY0NTQ=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tenaris-completes-acquisition-of-additional-participation-in-usiminas-control-group\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tenaris-completes-acquisition-of-additional-participation-in-usiminas-control-group\\\/\",\"name\":\"Tenaris Completes Acquisition of Additional Participation in Usiminas Control Group - 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(NYSE and Mexico: TS and EXM Italy: TEN) reported today that its Brazilian subsidiary Confab Industrial S.A., together with its affiliates Ternium Investments and Ternium Argentina, all of which compose the T\/T group within the Usiminas control group, completed the previously announced acquisition of 68.7 million ordinary shares of Usinas Sider\u00fargicas de Minas Gerais S.A. \u2013 USIMINAS (\u201cUsiminas\u201d) from Nippon Steel Corporation, Mitsubishi and MetalOne (the \u201cNSC group\u201d), pro rata to their current participations in the T\/T group within the Usiminas control group, at a price of BRL 10 per ordinary share. 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