ArcelorMittal unlocks value through partial sell-down of its shareholding in Vallourec with proceeds allocated to share buybacks
ArcelorMittal has sold approximately 23.9 million shares (10%) of Vallourec at EUR 24.00 per share, raising about $667 million through an accelerated bookbuilding to institutional investors. The proceeds will be returned to ArcelorMittal shareholders via continued share buybacks. Post-transaction, ArcelorMittal retains 17.3% of Vallourec and a seat…