Apollo funds agree to sell 28.4% stake in vallourec to arcelormittal

New york, march 12, 2024 (globe newswire) -- apollo (nyse: apo) today announced that apollo-managed funds (“apollo funds” or the “funds”) have agreed to sell 65.2 million common equity shares in vallourec sa (euronext: vk; “vallourec”, the “company”), a value-added manufacturer of premium tubular steel products, for €14.64 per share to arcelormittal. the shares sold represent a 28.4% equity interest1 in vallourec and a total transaction value of approximately €955 million, and upon close will mark the apollo funds' exit of the investment.
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