MRC Global Inc. Announces Distribution Of Shares By PVF Holdings LLC

     MRC Global Inc. Announces Distribution Of Shares By PVF Holdings LLC

PR Newswire

HOUSTON, May 13, 2013

HOUSTON, May 13, 2013 /PRNewswire/ -- MRC Global Inc. (NYSE:MRC) today
announced that its largest shareholder, PVF Holdings LLC, has distributed all
of its shares of the common stock of MRC Global to the owners of PVF
Holdings.

Andrew R. Lane, MRC's chairman, president and chief executive officer, stated,
"This action today by PVF Holdings is one of the final steps in the natural
evolution of MRC going from a company that is private equity sponsored and
owned to a company whose shares are publicly traded."

PVF Holdings was formed in 2006 in connection with MRC Global's acquisition of
McJunkin Corporation and utilized for the acquisition of other legacy
companies. The over 400 owners of PVF Holdings include many of the former
owners and employees of these predecessor businesses as well as investment
funds managed by the Merchant Banking Division of The Goldman Sachs Group,
Inc. (Goldman Sachs MBD).

Prior to MRC Global's initial public offering in April 2012, PVF Holdings
owned 99.6% of the common stock of MRC Global. As a result of the initial
public offering and two subsequent follow-on offerings in November 2012 and
March 2013, PVF Holdings beneficially owned 28.6% of the common stock of MRC
Global. Immediately following this distribution, Goldman Sachs
MBDbeneficially owns 17.2% of the outstanding common stock of MRC Global, and
none of the other over 400 individual owners of PVF Holdings own more than
1.0% of the shares (except for Transmark N.V., which owns 1.8% of the
shares). The average number of shares distributed to each individual holder
(excluding Goldman Sachs MBD) is approximately 28,800 shares. PVF Holdings
has informed MRC Global that PVF Holdings expects to dissolve and wind up its
affairs.

In connection with the distribution, MRC Global has registered all 29,081,987
shares distributed for resale by filing a prospectus supplement to the
company's automatic shelf registration statement relating to MRC Global's
common stock. The company will not receive any of the proceeds of any of the
shares that may be sold pursuant to this registration. Each equity owner of
PVF Holdings who receives MRC Global shares as a result of PVF Holdings
distribution will individually determine if and when that shareholder desires
to sell the shareholder's shares.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any state or jurisdiction.

The company has filed a registration statement (including a prospectus) with
the Securities and Exchange Commission (the SEC) for the offering to which
this communication relates. Before you invest, you should read the prospectus
in that registration statement and other documents the issuer has filed with
the SEC for more complete information about the issuer and this offering. You
may get these documents for free by visiting EDGAR on the SEC Web site at
www.sec.gov. Alternatively, the company, any underwriter or any dealer
participating in the offering (if any) will arrange to send you the prospectus
if you request it by calling the issuer toll-free at 877-294-7574.

About MRC Global Inc.

Headquartered in Houston, Texas, MRC, a Fortune 500 company, is the largest
global distributor, based on sales, of pipe, valves and fittings (PVF) and
related products and services to the energy and industrial sectors and
supplies these products and services across each of the upstream, midstream
and downstream sectors.

Contacts:

James E. Braun, EVP & Chief Financial Officer
MRC Global Inc.
Jim.Braun@mrcglobal.com
832-308-2845

Ken Dennard, Managing Partner
Dennard- Lascar Associates
ken@dennardlascar.com
713-529-6600

SOURCE MRC Global Inc.
 
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