TMK Announces the U.S. Department of Justice Approved Tenaris’s Acquisition of IPSCO Tubulars from TMK
PAO TMK, a Russian company and manufacturer of steel pipe, a Metal-Expo regular exhibitor, announces that the U.S. Department of Justice (DOJ) has closed its investigation of Tenaris’s proposed acquisition of IPSCO Tubulars, Inc. from PAO TMK.
The proposed transaction was entered into on March 22, 2019 pursuant to a Stock Purchase Agreement between PAO TMK, one of the world’s leading producers of tubular products for the oil and gas industry, and a wholly owned subsidiary of Tenaris, an international producer of seamless and welded pipe. TMK expects to be able to consummate the transaction shortly.
Tenaris is a leading global supplier of steel tubes and related services for the world's energy industry and certain other industrial applications.