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Vallourec controls 99.03% of Tianda Oil Pipe’s equity

Published by
World Pipelines,


Vallourec has announced the success of the mandatory and unconditional cash bid launched on 4 November 2016 for the minority interests of Tianda Oil Pipe (TOP).

On 14 November 2016, Vallourec announced it held 70.07% of TOP’s equity following the acquisition of a 50.61% controlling stake, it being specified that Vallourec held 19.46% of TOP’s equity since 2011.

Vallourec now holds 99.03% of TOP’s equity and will create a new and highly competitive production hub in China to supply a wider range of solutions combining VAM® connections and Tianda’s very competitive tubes to the domestic and export markets.

Read the article online at: https://www.worldpipelines.com/business-news/07122016/vallourec-controls-9903-of-tianda-oil-pipes-equity/


 

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