ArcelorMittal Successfully Prices Vallourec Secondary Offering
ArcelorMittal announces the successful pricing of its secondary offering of shares in Vallourec. ArcelorMittal has sold approximately 23.9M shares in Vallourec, representing approximately 10.0% of Vallourec's outstanding share capital, at an offer price of EUR 24.00 per share, raising gross proceeds of approximately $667M. The transaction was conducted via an accelerated bookbuilding process to institutional investors. ArcelorMittal remains supportive of Vallourec's strategy and management team and continues to see value in the company. Following the settlement of the transaction, ArcelorMittal will retain approximately 17.3% of Vallourec's share capital and will continue to hold one seat on Vallourec's Board of Directors. Settlement is expected to occur on or around 21 May 2026. Commenting, Genuino Christino, Chief Financial Officer, ArcelorMittal, said: "This step underlines our commitment to deploying capital in a way that delivers clear, measurable returns for shareholders. By realizing value and returning the proceeds to shareholders through buybacks, we are converting a strong investment outcome into immediate, tangible benefits."
