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Tenaris Subsidiary Named in CSN Lawsuit Seeking Tender Offer to Minority Holders of Usiminas Ordinary Shares

Tenaris Subsidiary Named in CSN Lawsuit Seeking Tender Offer to Minority 
Holders of Usiminas Ordinary Shares 
LUXEMBOURG -- (Marketwire) -- 02/04/13 --  Tenaris S.A. (NYSE: TS)
(BAE: TS) (BVM: TS) (MILAN: TEN) (Tenaris) announced that its
Brazilian subsidiary Confab Industrial S.A. (Confab) was notified of
a lawsuit filed in Brazil by Companhia Siderurgica Nacional (CSN) and
various entities affiliated with CSN against Confab and various
subsidiaries of Ternium S.A. The entities named in the CSN lawsuit
had acquired a participation in Usinas Siderurgicas de Minas Gerais
S.A. - USIMINAS (Usiminas) in January 2012.  
The CSN lawsuit alleges that, under applicable Brazilian laws and
rules, the acquirers were required to launch a tag-along tender offer
to all minority holders of Usiminas ordinary shares for a price per
share equal to 80% of the price per share paid in such acquisition,
or 28.8 Brazilian reais (BRL), and seeks an order to compel the
acquirers to launch an offer at that price plus interest. If so
ordered, the offer would need to be made to 182,609,851 ordinary
shares of Usiminas not belonging to Usiminas' control group, and
Confab would have a 17.9% share in the offer.  
Tenaris believes that CSN's allegations are groundless and without
merit, as confirmed by several opinions of Brazilian counsel and
previous decisions by Brazil's securities regulator Comissao de
Valores Mobiliarios, including a February 2012 decision determining
that the above mentioned acquisition did not trigger any tender offer
requirement. Accordingly, Tenaris will defend itself vigorously. 
Tenaris is a leading global supplier of steel tubes and related
services for the world's energy industry and certain other industrial
applications. 
Giovanni Sardagna
Tenaris
1-888-300-5432
www.tenaris.com 
 
 
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