LUXEMBOURG--(Marketwire - Aug 29, 2011) - Tenaris S.A. (
If the offer is approved, Tenaris will offer to pay a price in cash of Brazilian real, or BRL, 5.20 per ordinary or preferred share, which represents a premium of approximately 32% to Confab's closing price of August 26, 2011, and a premium of approximately 35% to its 20-trading day volume weighted average price. Tenaris currently owns 99% of Confab's ordinary shares, which represent 99% of the voting rights and 41% of the share capital. If all Confab shares not already owned by Tenaris are acquired, the transaction would be valued at BRL 1,243 million (or, at the BRL/US$ exchange rate as at the close of August 26, approximately US$ 775 million).
Confab is a leading Brazilian producer of welded steel pipes and industrial equipment for the energy industry and other applications.
Tenaris is a leading global supplier of steel tubes and related services for the world's energy industry and certain other industrial applications.
Contact Information:
Giovanni Sardagna
Tenaris
1-888-300-5432
www.tenaris.com