Techint unit buys US pipe maker from Benteler

Techint unit buys US pipe maker from Benteler

Corporate & Sovereign Strategy M&A Argentina Italy Germany United States Gas Oil Pipelines

Tenaris, a unit of the Argentine-Italian industrial conglomerate Techint, said late Thursday it agreed to buy Benteler Steel & Tube Manufacturing Corp in Louisiana for $460 million, expanding its production range and presence in the US market. The Luxembourg-based producer of steel tubes for the energy industry said the cash-free, debt-free deal includes $52 million of working capital, according to a press release. The deal is expected to close in the fourth quarter of this year, subject to

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