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Mergers - Acquisitions - Takeovers / Salzgitter AG and Vallourec SA intend to concentrate their seamless tubes activities at Vallourec

Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
20.01.2005
Salzgitter AG and Vallourec SA, Paris, intend to concentrate their
seamless tubes activities at Vallourec. In pursuit of this aim, the
45 % stake in V&M Tubes SA (V&M) held by wholly-owned Salzgitter
subsidiary Mannesmannröhren-Werke GmbH (MRW) is to be sold to French
joint venture partner Vallourec. The result will be to increase
Vallourecs interest in V&M, the world market leader in the seamless
steel tubes sector, to 100 %.
The companies concerned EUR Salzgitter AG, MRW, Vallourec and V&M EUR
have signed a non-binding Memorandum of Understanding which covers
the essential key points of the transaction. A purchase price of EUR
545 million has been agreed for the 45 % stake in V&M, to be paid in
cash to MRW upon transfer of the shares no later than July 31, 2005. 
The contract is expected to be concluded towards the end of the first
quarter of 2005.
The deal is subject to requisite approval by among others the
Supervisory Boards of Salzgitter AG and MRW as well as by the
relevant competition authorities.
For further details please refer to the press releases issued by
Salzgitter AG and Vallourec SA.
end of announcement                    euro adhoc 21.01.2005 06:30:00 

Further inquiry note:

Bernhard Kleinermann
Tel.: +49 (0) 5341-21-3783
E-Mail: kleinermann.b@salzgitter-ag.de
Tel.:49 (0) 5341-21-01
FAX: +49 (0) 5341-21-2727
Email: gersdorff.b@salzgitter-ag.de

Branche: Iron & Steel
ISIN: DE0006202005
WKN: 620200
Index: MDAX, Prime Standard, CDAX, HDAX
Börsen: Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Frankfurter Wertpapierbörse / official dealing
Niedersächsische Börse zu Hannover / official dealing

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Plus de actualités: Salzgitter AG