Apollo (APO) announced that Apollo-managed Funds have agreed to sell 65.2M common equity shares in Vallourec SA, a value-added manufacturer of premium tubular steel products, for EUR 14.64 per share to ArcelorMittal (MT). The shares sold represent a 28.4% equity interest in Vallourec and a total transaction value of approximately EUR 955M, and upon close will mark the Apollo Funds’ exit of the investment. The transaction is expected to close in the second half of the year, subject to satisfaction of customary closing conditions.
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