Tenaris Accomplishes Confab Delisting
(firmenpresse) - LUXEMBOURG -- (Marketwire) -- 04/24/12 -- Tenaris S.A. (NYSE: TS) (BAE: TS) (BVM: TS) (MILAN: TEN) announced that, at the auction for its delisting tender offer to acquire all of the ordinary and preferred shares held by the public in its Brazilian subsidiary Confab Industrial S.A., or Confab, first announced on January 18, 2012, a total of 216,269,261 Confab shares were tendered. As a result, Tenaris attained the requisite threshold to delist Confab from the São Paulo Stock Exchange.
The final cash price paid in the auction was Brazilian reais, or BRL, 5.90 per ordinary or preferred share (or approximately US$3.14 per ordinary or preferred share). Subsequent to the auction, Tenaris acquired 6,070,270 additional Confab shares in the market at the same price. Tenaris's total investment in Confab shares pursuant to these transactions amounts to BRL1,311.8 million, or approximately US$697.4 million.
Upon settlement of the offer and the subsequent purchases on April 26, 2012, Tenaris will hold in the aggregate approximately 95.9% of Confab.
Under applicable Brazilian rules, the remaining holders of Confab shares will have the option to sell their shares to the offeror at the same price paid to the tendering shareholders (adjusted by Brazil's SELIC rate) at any time during the 90-day period following April 23, 2012. In addition, Confab will have the right to redeem the remaining shares at the same price paid to the tendering shareholders (adjusted by Brazil's SELIC rate); upon completion of such redemption, Confab will become a wholly-owned subsidiary of Tenaris.
The aggregate amount payable for the remaining Confab shares (currently totaling 16,617,646 shares, or approximately 4.1% of Confab's share capital) will be approximately BRL98 million, or approximately US$52.1 million.
Tenaris is a leading global supplier of steel tubes and related services for the world's energy industry and certain other industrial applications.
Giovanni Sardagna
Tenaris
1-888-300-5432
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 24.04.2012 - 05:00 Uhr
Sprache: Deutsch
News-ID 138210
Anzahl Zeichen: 0
contact information:
Town:
LUXEMBOURG
Kategorie:
Coal
Diese Pressemitteilung wurde bisher 208 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Tenaris Accomplishes Confab Delisting"
steht unter der journalistisch-redaktionellen Verantwortung von
Tenaris S.A. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
