Tenaris Launches Delisting Tender Offer for Confab Shares
LUXEMBOURG -- (MARKET WIRE) -- 03/22/12 -- Tenaris S.A. (NYSE: TS) (BAE: TS) (BVM: TS) (MILAN: TEN) announced today that, following receipt of all requisite approvals from CVM (Brazil's securities regulator) and the Sao Paulo stock exchange, its wholly-owned subsidiary Tenaris Investments S.à r.l. launched its delisting tender offer to acquire all of the ordinary and preferred shares held by the public in Confab Industrial S.A. The offer, which was first announced on January 18, 2012, provides for a price in cash of Brazilian reais, or BRL, 5.85 per ordinary or preferred share, subject to adjustment as described in the offer documents. The auction for the offer and the announcement of its results are expected to be made on April 23, 2012.
Tenaris is a leading global supplier of steel tubes and related services for the world's energy industry and certain other industrial applications.